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1939 - 1960

War and Peace: Banking in a Keynesian World

Mortgages are launched at Royal Bank

Royal Bank's first advertisement for mortgages came in the form of an informational booklet available in the branch in 1954 with all the details on this new product. The "average" house, given as an example in the booklet, was valued at $8,000, and after an $800 down payment, the monthly payments were $48.88.

Mortgage briefing session, 1954

Earle McLaughlin, centre right, with bank staff at mortgage briefing session in Saskatchewan, 1954.



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Last modified: 12/07/2004 08:31:31