TD hikes Canadian mortgage Rates effective November 17th,2010

Nov. 16, 2010 - PRLog -- TORONTO | November 16th,2010 | www.WorldWealthBuilders.com |

TD  is raising some of its fixed-term mortgage rates by as much as one-quarter of a percentage point, beginning November 17th,2010.

"Fluctuations in fixed-term mortgage rates usually reflect changes in the bond markets" says Navtaj Chandhoke, founder,Professional Real Estate Investors group (PREIG) Canada.

TD is raising fixed rates 15-25 basis points, effective November 17th,2010. The posted 5-year fixed is going from 5.19% to 5.44%. This is the first such increase in almost six months. Other banks typically follow competitors’ posted rate moves within 1-2 days. Just nine days after RBC cut posted rates to new lows, they’re headed back up.

The bank's five-year mortgage, one of the most commonly chosen by homeowners in Canada, will rise 0.25 of a percentage point to 5.44 per cent.

TD is also raising its three- and four-year rates by one-quarter of a point, to 4.25 per cent and 5.19 per cent respectively. One- and two-year closed mortgage rates are rising 0.15 of a percentage point to 3.35 per cent and 3.60 per cent, respectively.

TD Canada Trust will leave unchanged its six-, seven- and 10-year closed mortgage rates as well as the one-year open mortgage rate and six-month convertible rate.

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