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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html: o" d: x: a+ ~& Q: E$ p" G4 ]8 p
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET- i! H" |: b; w" ?# `2 T$ V+ [
CBC News$ p0 d# D' [, `6 i$ Z; u; f
% V" C" {, e1 ~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.
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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.' I! r- G$ N' n
& _ g& U1 z- W' XThe 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.' a- a+ S: N/ r
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Other banks are expected to follow with rate hikes of their own.6 a+ F: F! y. J7 m
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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.
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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. , ^9 X/ O* W+ P/ P0 o4 z% i
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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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