Canadian banks raise some mortgage rates, lower others
For the first time since the start of the COVID-19 pandemic, Canadian banks raised rates on fixed-rate mortgages.
TD Bank (TD.TO), National Bank of Canada (NA.TO), HSBC (HSBC), Royal Bank (RY.TO), Scotiabank (BNS.TO), and BMO (BMO.TO) made moves in response to a rising yield on the Canada 5-year bond.
Posted rates remain the same, but special rates that most clients end up paying ticked up between 15 and 25 basis points on 5-year terms.
Original Article Source Credits: Yahoo Finance, https://ca.finance.yahoo.com/
Article Written By: Jessy Bains
Original Article Posted on: March 4, 2021
Link to Original Article: https://ca.finance.yahoo.com/news/canadian-banks-raise-some-mortgage-rates-lower-others-192709963.html