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BMO, Scotiabank join RBC in quietly reducing mortgage rates - f8 `4 ?1 P4 {) h+ e9 V. R: X: z& T: G
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
+ p/ ^8 T5 P) n( f: l% RBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 6 e# {3 y: ?% e; J1 ?" A' C. r
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. . M! X# q+ Q) S- C" V' u
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3 O4 v) t1 {1 j& Y9 |: c6 H. STORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. & ~% N1 Y a# P! P
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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. 3 o. y. _7 k, `- w3 q, `
8 u* N+ B. Z' ]: t( x/ KHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity " C0 I/ m8 ?6 R9 W3 V( B! @
5 N* a: P6 t! Z8 WMost 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 0 C4 H- K' s6 P. |; k
0 p6 A; i# k! [Continue reading ; P7 M$ C' V. J+ n; x; K
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. 9 M. W1 ~9 t3 _. a- V) ~& l
/ U _! k* Y* q, N5 S" {! XBMO, 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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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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