Fierce Rate Competition Hits Margins At Canadian Banks
Jun14

Fierce Rate Competition Hits Margins At Canadian Banks

Canadian bank’s Q2 2011 earnings show intense rate competition, which hit net interest margins (NIM), indicating they may not be superior to US banks.

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Canadian Banks Lower Rates 5/28/2011
May28

Canadian Banks Lower Rates 5/28/2011

On 5/27/2011, four of Canada’s largest banks announced decreases to a number of their fixed rate mortgages by 0.10%. The Royal Bank of Canada (RBC), Toronto Dominion Bank (TD Canada Trust), Bank of Montreal (BMO), and Bank of Nova Scotia (Scotiabank)..

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Variable Vs Fixed Rate Mortgage
Jan28

Variable Vs Fixed Rate Mortgage

Although rates have increased from their historical lows since the height of the financial crisis, they still remain relatively low. For those thinking about renewing or getting a new mortgage, the age old question of which type of mortgage to go with comes to mind.  Is a Fixed Rate Mortgage (FRM) or Variable Rate Mortgage (VRM) better?  Lets look at some considerations: . Mortgage Types Variable Rate Mortgage (VRM): A variable rate...

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RBC Royal Bank Raises Rates 12/15/2010
Dec15

RBC Royal Bank Raises Rates 12/15/2010

On 12/14/2010, The Royal Bank of Canada (RBC) [RY/tse:RY] announced mortgage rate increases, along with the Toronto Dominion Bank (TD Canada Trust) [TD/tse:TD].  It is expected that the other big banks will raise rates by the end of the week. Royal Bank increased its 5 year closed mortgage 0.20% to 4.24%.  Its 6 month convertible rate increased 0.10% to 4.05%.  Other special rate offers also increased. TD Canada Trust’s 5 year...

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Bank Of Canada Raises Benchmark Interest Rate

On Tuesday June 1, 2010, Canada’s retail banks raised their prime lending rates by 25 basis points.  Royal Bank of Canada (RBC), TD Bank, Bank of Montreal (BMO), CIBC, Desjardins, National Bank, and Laurentian raised their prime lending rates to 2.50%. However, BMO lowered its 5yr fixed rate mortgage rate by 10 basis points to 4.25% This comes as the Bank of Canada decided to raise its benchmark interest rate to 0.5%, the first...

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