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BMO, Scotiabank join RBC in quietly reducing mortgage rates 7 L5 D" J- r% |' K
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
% X. |- P* W8 _* O$ S' w" JBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
1 }; d7 c: k0 |- n2 a: VNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 0 S, @2 s; t7 [; P% p/ _' S2 d
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* R9 d# t0 I' h+ yTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. * R, j0 W5 [% t! a
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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For 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.
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8 E$ A" i* { NBMO, 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. & r% A* X+ P& X* ?7 s0 h
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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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2 a8 C6 @$ U3 P" H. [ u- STD 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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