Mortgage Moves

January 23, 2009

January 20- Canadian Press

Although the chartered banks quickly followed Tuesday's rate cut, long-term loans are widely perceived as relatively expensive and difficult to obtain.
In Tuesday's mortgage moves, the Royal Bank of Canada (TSX:RY) slashed its one-, two-and three-year rates by 1.1 percentage point. Its five-year posted rate drops 0.96 point to 5.79 per cent, and there is a five-year closed special offer of 4.49 per cent.

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