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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html/ ]9 X* k/ t/ B1 S
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET3 t5 h& y- e) @: x
CBC News q; {+ [" p% Y; l( T' L% _
1 v/ ^! S: `/ L9 R9 K. oMortgage 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.; ?: b# ?4 _3 W' c# p" W
2 a/ {: I! M8 hRBC 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.8 I, W: z; w9 i* e, I( W8 b
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The 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.
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Other 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.7 B7 }" A; @0 C. |
+ m V2 p; i4 t" ~9 V( E3 L+ 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. & i+ q% R4 ]; c( U4 y o! ]
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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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