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RBC drops home mortgage rate6 E* I, e- }' _/ E) u
Sep. 5, 2006. 12:45 PM
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: L7 @* B" f8 m; q$ l' y0 YRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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- ?8 s W& x- D+ b$ z9 d4 d+ p$ x8 ^Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday./ A- g5 d8 e2 t) r/ O
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At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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