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BMO, Scotiabank join RBC in quietly reducing mortgage rates
E% ^2 P1 I% z* i1 n1 ]+ F8 LCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
) t9 S2 U( _9 ^' t9 mBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
0 K! S# ~9 D/ R2 |" _' QNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ) @2 C! X+ t: u3 L
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+ u! T7 |. {" `3 v! x% PTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. / x S q f9 J& d
/ \( A9 s! Q0 q! h& v1 N1 u) K- L. NBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. $ Y1 _9 @$ e6 S( _
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7 b* i7 J+ K ] n2 e+ z: m! ]% B# ~3 [/ mFor 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. ( p) x7 l5 ]8 b
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BMO, 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.
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( ]9 o0 \# |' M# [. p! p1 WThe 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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