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Thursday, September 15, 2011

Banks lowering some Canadian mortgage rates

TORONTO - Some Canadian mortgage rates are going down as of Thursday.

TD Canada Trust (TSX:TD) was the first major bank to announce a change, with its five-year closed mortgage rate falling 15 one-hundredths to 5.24 per cent.

Royal Bank (TSX:RBC) and Bank of Montreal ()TSX:BMO) will drop their five-year closed mortgage rate by 20 one-hundreds to 5.19 per cent.

Most of the banks' other rates remain unchanged but BMo is also dropping its four-year closed rates by 20 one-hundredths to 4.79 per cent.

(re-printed from the Winnipeg Free Press Online Edition)

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