Close X
Wednesday, November 27, 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

    Quebec Seal Hunter Flown To Hospital After Attack By Seal Off Nova Scotia

    Quebec Seal Hunter Flown To Hospital After Attack By Seal Off Nova Scotia
    A Quebec seal hunter had to be airlifted to hospital this week after being attacked and seriously injured by a grey seal in Nova Scotia.    

    Quebec Seal Hunter Flown To Hospital After Attack By Seal Off Nova Scotia

    Manitoba Government To End Practice Of Birth Alerts In April

    Manitoba Government To End Practice Of Birth Alerts In April
    The Manitoba government says it is ending a practice that has allowed hospitals to notify child-welfare agencies about new mothers deemed to be high risk.

    Manitoba Government To End Practice Of Birth Alerts In April

    Despite Big Drop In 4th-Quarter Donations, Tories Won 2019 Fundraising Race

    The federal Conservative party's fundraising machine appears to have run out of steam during the final three months of 2019, as new Elections Canada figures show the party long known for raising more than any others fell behind the governing Liberals.

    Despite Big Drop In 4th-Quarter Donations, Tories Won 2019 Fundraising Race

    Federal Court Of Appeal To Release Decision In Trans Mountain Challenge

    Federal Court Of Appeal To Release Decision In Trans Mountain Challenge
    The Federal Court of Appeal is set to release its decision on the latest challenge of the Trans Mountain pipeline expansion on Tuesday.

    Federal Court Of Appeal To Release Decision In Trans Mountain Challenge

    More Moderate Income Rental Homes Coming To Vancouver

    Vancouver Council has approved an additional three projects under its Moderate Income Rental Pilot Program (MIRHPP), which will provide more than 50 new below-market homes for individuals, couples and families including:  

    More Moderate Income Rental Homes Coming To Vancouver

    Penticton Woman Anna Fodor Eyeing Truck, Trailer And Travel After $500000 Lottery Win

    When Anna Fodor checked her Lotto Max ticket manually and realized she did not win the record-breaking $70-million jackpot, she thought that was that. 

    Penticton Woman Anna Fodor Eyeing Truck, Trailer And Travel After $500000 Lottery Win