Three weeks after Canadian interest rates were unexpectedly lowered...they are on their way back up!
Citing rising bond yields and subsequent increases in the cost of funds, Toronto-Dominion Bank was the first to announce Monday it was increasing rates on more than a dozen of its mortgage offerings, with the popular five-year closed mortgage going up 35 points to 5.69 per cent.
By late afternoon, the move was mirrored by the RBC, CIBC and Scotiabank.
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Domenic Mirabelli
416.303.4480
domenic.mirabelli@migroup.ca
domenic.mirabelli@migroup.ca
“Helping you find a mortgage...and peace of mind”
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