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BMO, Scotiabank join RBC in quietly reducing mortgage rates - G" }: _% ^$ _* W. I
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ! _4 @$ C }' e# Y
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % V2 T: p0 N, V0 ^, s
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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* Q1 s1 R' G6 Q6 QTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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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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( U7 ~" n/ O: k8 D3 n. i- r6 THow factory-built homes are shedding their ‘cheap’ label and exploding in popularity , p" ?: N$ f3 \" ^2 Y' t" K) R, b
) h* `6 @+ C9 | t3 k6 J5 P5 ]+ wMost 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/ C$ X' O- w7 m3 I+ `$ h
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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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, t) J# R x$ jThe 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%. 3 | h+ D3 Y3 N F* T0 f, ?7 u/ B
2 O/ r+ H6 [) \! v+ v% P0 vTD 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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