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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html5 h* q' G1 m" @+ z* c7 w L
% T5 g$ F( H n0 z1 {0 x; WLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
@+ a: @7 ~) i: x8 m$ OCBC News
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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.; I2 r9 Z" \" M! h3 W1 ^
+ S% {% a' P5 p& `" B6 G! SRBC 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.* m4 T* C1 c6 ]: h: [
5 o; r* g4 X. U( m, l& SThe 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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Other banks are expected to follow with rate hikes of their own.& Z% T7 y0 `4 F' d
9 U$ ?5 m4 D/ Z* }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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+ k* h. G6 G, }7 e2 p; IThe 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. 6 v5 I. X, b* H
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The 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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