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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html+ t( E; h( v% p0 P# j. I- ]
( p' s; t1 p, _0 l& I+ T. yLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET: ^5 g; }' o5 s! | T& y3 q
CBC News
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Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.
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( B4 C4 I5 \/ l3 U- f; W& _( NRBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.7 p2 D9 [/ T \! T* W; H, U
# P* J8 s5 ]3 v& X) d" jThe posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.! |; X, e: X) Q) c8 i6 q
* ?: D/ B% Q4 e/ L( wOther banks are expected to follow with rate hikes of their own.
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Yields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation. L3 A( C/ m2 [/ v* T9 D
: s: x1 i' S$ a3 DThe yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May. / c% ?, X* l6 C% d
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The posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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