 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
6 {/ z1 \5 J, y+ E$ c$ L1 k
1 q# j5 |+ I4 A/ q% t& e4 DLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET/ q9 o$ ?5 v. f4 m. Y" f- ?/ L+ s
CBC News
e( |& j5 {' w5 }* J
y5 u9 M: A, `& S2 V% d( ^1 f2 C' ~Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.
) t* a' h$ V% G7 x1 o2 X& n# U- B+ o1 \, Q2 H9 [
RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.
% Y; G* h! g2 D( V8 i, x8 J \' f! U w( B# `( w, @+ l4 N- z
The posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.1 r0 e3 N- n2 r+ r* k+ c
2 C0 ^# T, E1 N1 d9 S7 r
Other banks are expected to follow with rate hikes of their own.
8 C4 P& {, G: B. ~4 X7 ]5 }5 b( a9 i: ]: U
Yields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
7 D5 V- o6 L! |3 y% w; s% r
# {- X P* ^- q& ]The yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
$ z4 I/ ~6 d. Y. S- U3 Y7 K
4 R A/ i/ o. n5 _0 ~4 k j6 BThe posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
|