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RBC drops home mortgage rate' i0 k0 B b* @' X4 V2 }' z$ R* U
Sep. 5, 2006. 12:45 PM
+ E( n1 N& L" G& RCANADIAN PRESS
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- F3 z8 n" _7 P9 Q- oRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.; o$ ^+ Y) s6 j- q
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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.9 T$ k- g q6 }1 l; R9 ^
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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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+ N' W. t8 g8 {; wThe 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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