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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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# o* E. x; J$ E; s0 ALast Updated: Tuesday, May 29, 2007 | 4:28 PM ET9 O0 h" T n; W/ b! B( |
CBC News
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' e, U% g; H5 p$ \- m& L9 O5 ?( DMortgage 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.% x4 e" W! v8 q7 h
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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.1 w& K' N; m, [' S3 C
9 k, @, Q8 j1 A( [: u0 hThe 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.) Y+ g* b5 E X$ U6 j# Z
2 f+ `; P5 W0 f9 Y$ ZYields 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.
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8 w5 r9 _) a9 W1 q1 E' OThe 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.
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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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