TD raising mortgage rates to reflect high cost of borrowing on bond markets
Posted April 4, 2011 10:26 am.
This article is more than 5 years old.
TD Canada Trust is raising most of its fixed-term mortgage rates, a move that reflects the bank’s increased cost of funds on bond markets.
TD says the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 percentage points starting Tuesday.
The posted rate for five-year closed mortgages — one of the most popular types of loans for Canadian home owners — will rise to 5.69 per cent.
TD mortgages with one-year, three-year and four-year terms will rise by 0.2 percentage point while two-year terms go up 0.3 percentage point.
Six-month and open one-year mortgages, which already bear relatively high rates, will stay the same.
