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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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1 r1 F! t4 q8 g8 l* g! d* v1 t1 {Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET
" m* C( T# m( H. {0 p# jCBC News, M$ ]4 z0 v9 J0 f9 h& h
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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.0 T7 n3 E: L e' a( B: m
3 v/ R9 e% t9 u2 R0 n: l- N' A$ XRBC 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./ t2 z, Q, O$ U2 R
# F. x1 h* r/ B. T d f. 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.
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Other banks are expected to follow with rate hikes of their own.6 o, w/ X( b- m+ h8 B8 E
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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.2 K% ~9 y1 u) A* {
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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. $ ~1 f% y! T9 ~: Z
* d, Q9 E3 v) |, ]* U+ i6 lThe 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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