Alberta boom will continue to bloom and the bust is nowhere in sight, according to a new report by the TD Bank on the provinces economic future. As a result of the boom, three of Canadas major banks are raising residential mortgage rates. The Bank of Montreal (BMO) and the Royal Bank (RY) said last week that their posted rates will raise as much as a quarter point beginning on Thursday. TD Banks (TD) rate changes went into effect October 10th, 2007.BMOs five year rate will increase 0.25 percentage points to 7.44 per cent, Royal Banks five year closed term will rise 0.21 poin[...]
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[Source: The Money Blogs]
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