Menu
The Avengers: Age of Ultron 3rd Trailer is Here …What to Expect?

The Avengers: Age of Ultron 3rd Trailer is Here …What to Expect?

Aston Martin DBX Electric GT Concept Stuns

Aston Martin DBX Electric GT Concept Stuns

Apple Postpones Production of 12.9-inch iPads, Says Report

Apple Postpones Production of 12.9-inch iPads, Says Report

Sony will launch Project Morpheus VR Headset in 2016

Sony Will Launch Project Morpheus VR Headset for PS4 in 2016

Apple Working on a Waterproof iPhone, Patent Applications Shows

Apple Working on a Waterproof iPhone, Patent Application Shows

Mortgage Rates Slashed

Jan 21 2014, 8:32am CST | by , in News | Misc

Mortgage Rates Slashed
/* Story Top Left 2010 300x250, created 7/15/10 */ google_ad_slot = "8340327155";

The bonds were yielding fewer assets and so the Royal Bank of Canada had to resort to take some drastic measures. Mortgage rates were slashed by the banking institution as an emergency move. It would ease up the pressure on the stash of bonds that had accumulated.

The Royal Bank of Canada is a source of lending and an asset builder for most Canadians. They rely on its value in their daily lives as a trustworthy enterprise. The large-scale bank cut its half-decade fixed mortgage by ten points so that it reached 5.24%. Other residential loans were pared in a similar manner. 

Meanwhile, the bonds are yielding paltry amounts after falling by 27 points. The bank is facing a tough situation along with several other top financial firms in Canada. The Royal Bank of Canada, which is based in Toronto, is in the process of some creative manipulation of funds and liquid assets in order to maintain its viability. 

One thing is for sure. The average rate of five year mortgages in the cold and snowy country had remained fixed for awhile now. But now with crunch time in full swing, the bank had to cut corners and keep curbs on its monetary profile

While there are no signs of the bank packing its bags and waving its investors and clientele a sad farewell, it is in somewhat of a dilemma. That is why the curtailment of mortgage rates has been deemed the best possible step for recalibrating the otherwise high-yield bonds.    

Source: Businessweek

You Might Also Like

From the Web

Read the Latest from I4U News

Comments

blog comments powered by Disqus