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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html+ j0 Y; S0 Y& `8 K& K
0 F/ Z* K2 w/ Y o( L6 GLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
8 @# e. O q* u, Q7 c2 t. V. W" gCBC News1 `7 P3 V. P3 B( ^) d4 A5 S
5 Z) L" p5 w- p( iMortgage 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.7 [( ~/ |4 a$ @) P2 y) I
; c# {( W- K) ?) R0 v5 t# P* M& z* \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.7 v5 Q6 Z5 ?( F( _$ H1 T- Q) Q
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The 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.
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1 w4 y, I. U3 B, l) ]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. 6 Y- ?* A) f" A9 w/ r: t: V8 w
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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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