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BMO, Scotiabank join RBC in quietly reducing mortgage rates 9 Q N# v- [$ T \/ o* G& L) M
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
+ M4 I- A4 \" J9 FBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
- p* c: h* Q3 ~! G a+ c( qNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. . K- _/ O& j6 D3 Y6 n
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 1 v3 L9 [: |" c" y4 h
7 a/ I4 j, x/ W! h" BBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity * p; w) j& K/ e7 H. }8 r
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Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days ^8 t9 C+ p& b( B C0 J! G
3 Q# u1 E4 G7 a+ L( Y0 KContinue reading
5 S; `7 f& U5 j0 H+ _For example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday. ; V4 B1 h0 g. b+ w
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BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca.
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. @) O D( F: O, q: i3 ~The changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%.
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TD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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