Canadian banks raise some mortgage rates, lower others

Author: External Author | | Categories: Mortgage Purchase Rates

Blog by Melissa Henderson - Mortgage Agent

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.

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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



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