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All Big Five banks hike mortgage rates
Bank of Montreal and Scotiabank hiked their residential mortgage rates yesterday, joining Royal Bank, TD Canada Trust and CIBC in increasing the cost of borrowing to buy a home.
The increases follow the Bank of Canada`s surprising decision to leave its benchmark overnight rate unchanged at 3 per cent, rather than lowering it by a quarter-point as most bank economists had expected.
http://www.thestar.com/Business/article/442444
Bank of Montreal and Scotiabank hiked their residential mortgage rates yesterday, joining Royal Bank, TD Canada Trust and CIBC in increasing the cost of borrowing to buy a home.
The increases follow the Bank of Canada`s surprising decision to leave its benchmark overnight rate unchanged at 3 per cent, rather than lowering it by a quarter-point as most bank economists had expected.
http://www.thestar.com/Business/article/442444