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BMO, Scotiabank join RBC in quietly reducing mortgage rates " s5 L9 J P+ M' T% z9 Y! a
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
& `! k& u, e4 W7 w' E* \. }Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
7 b* W7 o# l/ O3 A& T' C" x& _; vNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 2 D% d5 V) T. w7 `
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. " ?. K- _$ _! }
8 l# c! k, |9 h8 UBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. - W7 r/ l2 Z4 R/ ~7 b( m3 Y0 o
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% o) c, d7 l5 r3 UMost 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
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+ W# d/ |( {0 f" OFor 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. + @) r, S( {% ~6 J9 ^+ Y
* d& K5 k6 o( s: p0 X7 Z2 }. UBMO, 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. 3 ]) @! P; ]) W& g# Q1 }
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The 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%.
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TD 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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