皇家銀行悄悄降息? Royal Bank quietly cuts interest rate?

real estate, 溫哥華,抗跌, 泡沫,high rise, detached, attached, 溫西,皇家銀行,天下,deflation, inflation, bankrupt, sales, plunge, rise, plummet, flat, correction, trend, real estate market根據加拿大郵報報導,加拿大皇家銀行,身為加拿大最大的房貸借款人,在這周末已經悄悄悄悄的調降它的利率。這項舉動可能只是整體利率調降的開始,雖然經濟學家整體認為銀行會在2014調升利率。

五年定期利率在2013年整體調升,從四月最低的2.64%至九月的3.39%,之後就維持在3.25%,根據Alyssa Richard的研究指出。

但是皇家銀行對於其本身的二,三,四,五年的定期利率整提調降,調降的基點是10。在其電子郵件聲明中指出,因為其他銀行持續的調降利率,所以皇家銀行打算跟進。既然皇家銀行是銀行界最大借款人,其他銀行可能也會跟進調降利率。

貸款利率通常會緊跟著政府五年其債卷利率一起浮動。根據加拿大銀行資料顯示,近期的政府五年債卷利率已經從1.95調至1.71。當然,加拿大的債卷是跟美國的債卷一起浮動的。但是美國本身經濟復甦非常不穩定,尤其是最新就業指數,導致美國近一步的削減利率。

這項削減利率的舉動,勢必會成為新一輪的利率削價戰。對於擔憂加拿大人借款過剩的加國財政部長,Jim Flaherty來說,無疑是一項新考驗。

Royal Bank of Canada, the country’s largest mortgage lender, has quietly cut some of its mortgage rates this weekend. The move appears to be part of a broader dip in rates, although economists generally still expect an increase in 2014.

Five-year fixed mortgage rates rose industry-wide for much of 2013, from their low of 2.64 per cent in April to their high of 3.39 per cent in September, according to Alyssa Richard, the chief executive officer of RateHub.ca. They edged down a bit later in the fall but had generally been steady at around 3.25 per cent since then.

RBC is now cutting its two-, three-, four– and five-year fixed mortgage rates each by 10 basis points. In an emailed statement, the bank said that some mortgage lenders have recently been pricing at lower rates, prompting it to move.

Royal Bank is often a price leader when it comes to mortgages, and other big banks frequently follow suit after it changes its prices. Its five-year fixed mortgage rate is now 3.69 per cent.

Mortgage prices tend to follow changes in five-year government bond yields because of the impact that those yields have on banks’ funding costs. The yield on five-year government of Canada bonds has fallen from 1.95 per cent on December 31st to 1.71 per cent on January 16th, according to Bank of Canada data, although it fluctuated during that time.

Canadian bond yields tend to follow U.S. bond yields. Yields began rising last May after U.S. employment numbers came in much better than expected, raising hopes for the U.S. economy. Then they shot up further after U.S. Federal Reserve chairman Ben Bernanke suggested the central bank could start tapering its asset-buying program, a signal that he thought the economy’s health was improving.

While the U.S. central bank has begun tapering, December jobs numbers and some other recent data have been disappointing, and caused bond yields to fall.

Most economists still expect that both yields and mortgage rates will tick up gradually through 2014, as the U.S. economy improves and the central bank continues to back off of its asset-buying program, known as quantitative easing.

But as Ms. Richard points out, it is possible that the U.S. economy will prove to be weaker than expected, and that could result in further decreases in bond yields and mortgage rates.

Royal Bank of Canada, which normally issues a press release when it changes its mortgage rates, made this move quietly, simply posting the new rates on its site. The news was reported this weekend by the blog Canadian Mortgage Trends.

Bank of Montreal dropped its five-year rate to 2.99 per cent early last year, spurring a price battle that angered Finance Minister Jim Flaherty. Mr. Flaherty has taken numerous steps, such as tightening the mortgage insurance rules, to prevent consumers from taking on too much mortgage debt. Policy-makers have been trying to warn consumers that, at some point, rates will rise.

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/royal-bank-quietly-cuts-mortgage-rates/article16402627/ (694)

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