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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html. o9 A2 k5 s) V9 c1 F
( {, v2 G* H \5 LLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET+ s) G9 u' o2 }. d4 i3 P
CBC News
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3 p* o, m: p9 _! A4 ^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.
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$ t$ g: d v0 w1 K8 f: nRBC 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.
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- x, B' K: ^# ?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.3 O6 r7 d) \/ {" A% o/ i3 Q
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Other banks are expected to follow with rate hikes of their own.
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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.
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: A1 P, w% x. k R) r2 Y# [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. & W) c# L. k% g4 M* L7 K
" p: ~! h9 Z& _8 x U+ TThe 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. |
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