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RBC drops home mortgage rate
) t$ t3 y! P' I- f* p5 M/ gSep. 5, 2006. 12:45 PM5 c9 \: A2 D- g3 w9 Q) b
CANADIAN PRESS) I2 o% x: F; g2 ]% t9 g
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. k2 s$ I) J4 z" URoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point. S" B* w# o) } Y( O2 o/ ~
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Canada'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.% s: a6 J2 g+ w
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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.
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The 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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