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RBC drops home mortgage rate$ }: t: [+ C1 C M3 g
Sep. 5, 2006. 12:45 PM
$ K, L" d' c6 ~5 F7 \8 n& nCANADIAN PRESS
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.! q, q# n w% H! m9 ^& e& g
4 g- g+ [9 @- f, ZCanada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.! `6 ^4 }- ]2 m0 W# d
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At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.$ b- A( r) q d7 i) K8 b
: w% i8 Y1 i6 c" iThe cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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