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RBC drops home mortgage rate# s0 C1 |0 s% X
Sep. 5, 2006. 12:45 PM$ b u) ]4 I- j; `) E) X: f
CANADIAN PRESS" U! f( e" c+ o
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4 O% r" |- J( J$ A! Y' N# x' MRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.5 C' a& p4 e% Y- ~. `; j5 a' t: l
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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.% H8 F6 T' t, Y6 @
1 q, ~7 a, F' uAt 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.* ^! E/ e k' r1 z7 k
- B* j6 z, E2 G: t/ Y2 {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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