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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET. \! ]; B) P& }9 S, ~+ {) @4 q
CBC News8 l& V" i7 J" y, t" ]8 B* J
' E* [$ Y; G- a* B9 zMortgage 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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) }+ _4 `+ h" Y3 LRBC 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.5 @- M& J$ {% a. \3 K( g
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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.
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, { j3 Y; l4 @, b8 ^! C: _# I6 [Other banks are expected to follow with rate hikes of their own.
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) P, W9 u. E# y8 I; H) `) N" j& h: bYields 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.( R" b6 p- J v; T& ^1 U
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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.
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: E( ?; W- P; i2 u1 E. N; VThe 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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