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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html9 s! U# u9 h. Y8 x; T) Z
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET# y1 Z: p" `" F' y
CBC News p6 \" Z# U8 @4 N# m
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Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.
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RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.- E! Z/ s) k' S8 d& a, g
* s s! y k, A% M* mThe posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.
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4 W m% \" O+ P/ _3 B& OOther banks are expected to follow with rate hikes of their own.+ s, E/ \. \8 S# R: z! r9 l4 B
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Yields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
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The yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
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% A, [* |/ X% U/ t7 xThe posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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