TD follows suit and raises Mortgage rates

August 22, 2012

TD Canada Trust is raising the interest rate it will charge for a three-year term mortgage, matching a move earlier this week by Royal Bank.

TD’s posted annual interest rate for three-year mortgages goes up by one-fifth of a point to 4.05%, starting Thursday.

The bank is also offering a special five-year rate for new mortgage applications, matching RBC’s offer of 3.69%.

Canada’s major banks tend to adjust their mortgage rates at about the same time, responding to factors such as competition and fluctuations on bond markets.

Most major banks had been offering three-year mortgages at 3.95% since late January until the RBC made its change, which went into effect Tuesday.

There are a number of mortgage rates beyond what banks list, often available through negotiation or from alternative

http://business.financialpost.com/2012/08/22/td-drops-mortgage-rate/


Tagged with: mortgage rates rbc real estate lending rates loans market conditions prime rate three year fixed td bank michaelkellyhomes mississauga homes for sale blogging port credit square one
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Michael Kelly Sales Representative

Sutton Group Realty Systems Brokerage

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