Close X
Thursday, October 31, 2024
ADVT 
National

TD Bank Cuts Posted Mortgage Rate To Reflect Lower Rate Environment

Darpan News Desk The Canadian Press, 04 Feb, 2020 05:52 PM

    TD Bank has lowered its posted five-year fixed-rate mortgage rate to narrow the gap between the benchmark and the special rates it offers customers.

     

    Banks maintain an official posted rate, but also offer lower rates either directly or through brokers and other channels that better reflect market conditions.


    TD cut its five-year posted rate for fixed-rate mortgages from 5.34 per cent to 4.99 per cent after lower funding costs pushed down the rates customers generally pay. TD's customer, or special, rate stands at 3.09 per cent, or 3.11 per cent with annual carrying fees included.

     


    The posted rate is still significant for the federal mortgage stress test, which is based on the posted rates at the big Canadian banks.


    Posted rates at Canada's other big banks remain somewhat elevated, but they often follow one another in mortgage rate movements.


    Mortgage rates trended downwards last year after the U.S. Federal Reserve cut interest rates three times and Canadian benchmark bond yields trended lower.

    MORE National ARTICLES

    14-Year-Old Snowboarder Missing Since Sunday At B.C.’s Sun Peaks Ski Resort

    14-Year-Old Snowboarder Missing Since Sunday At B.C.’s Sun Peaks Ski Resort
    Mounties say the missing boy took a shuttle to the Sun Peaks Resort Sunday morning but failed to catch the return shuttle to Kamloops in the afternoon.

    14-Year-Old Snowboarder Missing Since Sunday At B.C.’s Sun Peaks Ski Resort

    Two Men Found Dead, Third Still Missing In B.C. Search That Involved Hundreds

    There's been a tragic end to a weekend search for three young men on southern Vancouver Island.

    Two Men Found Dead, Third Still Missing In B.C. Search That Involved Hundreds

    Lower Mainland Mayors, Including Surrey, Endorse Regional Ride-Hailing Licence

    Mayors in British Columbia's Lower Mainland have reached an agreement on an interim business licence for ride-hailing companies that want to operate in the region.

    Lower Mainland Mayors, Including Surrey, Endorse Regional Ride-Hailing Licence

    Sentencing For Man Who Murdered Abbotsford Police Officer Const. John Davidson

    The man who killed Abbotsford, B.C., police Const. John Davidson in November 2017 will be sentenced in court today.

    Sentencing For Man Who Murdered Abbotsford Police Officer Const. John Davidson

    'Suspicious Package' Found In Surrey Parking Lot: RCMP

    'Suspicious Package' Found In Surrey Parking Lot: RCMP
    AT about 12:40 p.m. on February 1, Surrey RCMP received report of a suspicious package that was located in the parking lot of King’s Cross Shopping Center in the 7400-block of King George Boulevard.

    'Suspicious Package' Found In Surrey Parking Lot: RCMP

    Celebrity Sledge Hockey Game At Surrey’s Newest Arena Featuring Hayley Wickenheiser And The Humboldt Broncos’ Ryan Straschnitzki

    Over 500 fans gathered at the North Surrey Sport and Ice Complex today for a celebrity sledge hockey game, hosted by Hayley Wickenheiser and Humboldt Broncos’ Ryan Straschnitzki, during Canadian Tire WickFest. 

    Celebrity Sledge Hockey Game At Surrey’s Newest Arena Featuring Hayley Wickenheiser And The Humboldt Broncos’ Ryan Straschnitzki