Posted on April 4, 2011
TD boosting mortgage rates
TORONTO— The Canadian Press
Published Monday, Apr. 04, 2011 10:22AM EDT
Last updated Monday, Apr. 04, 2011 10:55AM EDT
TD Canada Trust (TD-T86.220.320.37%) 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.