鲜花( 0) 鸡蛋( 0)
|
RBC drops home mortgage rate6 [& }$ a! Q8 ?; J/ k! j
Sep. 5, 2006. 12:45 PM
$ V/ Y' Q& L8 ICANADIAN PRESS
; F! h% {' c% n$ m9 B% c7 z& ]# {
) ~$ D9 o! W+ W
( l2 t) L+ f% f9 \* X. I* v, ~2 dRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
& x5 b( H: Q6 L+ M) C2 @8 u; @; P& l5 Y+ p
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.
; P. J7 E* F; ^0 e1 ~6 Z- @0 h v r1 ^2 h7 _$ `% L1 |
At 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.
" s& M6 M0 h; W" R3 C% ]/ `$ G0 _! y9 j' H
The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
|