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RBC drops home mortgage rate
/ x) a2 Y0 S% T+ S X; O, ]Sep. 5, 2006. 12:45 PM2 \$ S3 n2 f: \2 b! ~; J; i. N% P
CANADIAN PRESS; B6 M+ i9 |7 ^: [1 H }$ ]
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. ]4 Y" w- h: DRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.9 z4 t' r5 @) z" |5 Y& |7 R, ~
- M8 c$ r; v* L+ Y0 ACanada'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.
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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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The 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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