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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET5 G5 L7 m: D/ N% l6 _) Z/ n/ I# Z; `
CBC News$ p+ k+ R' n* G' F. D
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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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RBC 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.& B9 y" [7 }1 }8 q" b* R3 _' U
1 z2 x% {* J' \9 G7 eThe 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.% d" Z) F+ K! k! ?' i9 s- v
3 ?8 H$ P; Z+ I- S; i3 WOther banks are expected to follow with rate hikes of their own.. U/ ?6 u% T& [3 N1 U
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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.# U J, y2 h. e- A1 O- X9 p1 _
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The 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. $ B2 t; [/ l' T( {3 W
; k. Y7 k, ]8 P8 {8 YThe 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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