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BMO, Scotiabank join RBC in quietly reducing mortgage rates 1 w8 J) p! |6 m
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 1 l0 N4 s5 Q: s0 K* h4 @4 x; u0 W
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. # ^4 }- N4 k9 ^9 e4 j
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 9 Q, S& t2 T$ Z1 k
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. ; V* c, U0 q2 l8 V* l/ c) M
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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# P) b$ Z P3 J0 S% F1 ~( fHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity 3 B) t6 R' w9 \
5 j8 U, v0 S9 R( b# ~! R. ]Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days * a! v3 e5 }. x9 u' K/ v
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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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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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The 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%. ' v2 r2 p$ k9 z
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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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