TD Bank and RBC have hiked their posted rates on fixed mortgages.
TD raised the rates of five-year fixed mortgages by 45 basis points to 5.59%, according to The Financial Post. It also increased its two-year, three-year, six-year and seven-year mortgage rates.
RBC shortly followed suit, raising the rates of one-to-four year mortgages by 15 basis points. Five-to-10 year mortgage rates will be hiked by 20 basis points.
It has also been reported that its variable mortgage rate will go down by 15 basis points starting Monday.
TD’s rates as they stand are 3.04% for one-year-fixed, 3.44% for two-year-fixed, 3.59% for three-year fixed, 3.89% for four-year fixed and 5.59% for five-year fixed.
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- What to do about your debt after the interest rate hike