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RBC drops home mortgage rate, l& D5 |" K5 C& v+ g1 X
Sep. 5, 2006. 12:45 PM
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, V) P% Q2 }4 O% p) P7 `Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.2 Q- c4 E o5 l) d
/ E8 b8 ]; U# MCanada'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.+ J* ?: z: [8 o5 |4 s8 O; Y) Y
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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.9 j# ]0 a# N: c# a2 E* w
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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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