Another big bank increases mortgage rates

Another big bank increases mortgage rates

Another big bank increases mortgage rates TD Bank has become the latest of the big banks to increase its mortgage rates as changes in the bonds market add to the impact of federal rule changes.

TD was the first lender to act following the introduction of mortgage rules by Ottawa in October, however the Trump election win has seen yields in government bonds surge with a resulting impact on mortgages.

The primary mortgage rate at TD has been raised by 5 basis points for a 4-year fixed-rate mortgage and by 10 points for a 5-year fixed rate.

RBC announced its changes earlier this week with new rates coming into effect Thursday.