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BMO, Scotiabank join RBC in quietly reducing mortgage rates
0 M! f( A# B5 X+ p0 T' H9 `Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
6 T( r9 Z2 q1 vBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
. n% P1 k1 e' b, x! bNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ) h v0 |* _5 ~4 a0 L6 e5 j5 y1 l
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; ^* q- D- I1 g) p4 r, G& U' bTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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5 m" f; b% Q- N- A1 c6 P+ x4 ?Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. ! k8 R6 i& o+ O1 P2 Y/ e5 ]- g
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For example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday.
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Q- Y- s* _! T1 w* G! v& k6 @BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca.
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% m! b9 H# F4 D! I4 VThe changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%.
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& R ]$ n8 a4 ~* W6 C$ ^TD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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