National

TD Bank Hiking Rates For Longer Mortgages And Rental Properties Thursday

The Canadian Press, 01 Dec, 2016 11:29 AM

TORONTO — TD Bank (TSX:TD) is hiking rates for fixed mortgages with longer amortizations and all mortgages on rental properties.

Effective Dec. 1, the lender will charge an additional 10 basis points to their overall rate for all new fixed amortizations of 25 years or more.

That same day, all new mortgages on rental properties will have 25 basis points added to their overall rate.

The changes follow a move by TD on Nov. 15, in which it raised its special rate offer for a four-year fixed mortgage by five basis points and for a five-year fixed mortgage by 10 basis points.

TD spokeswoman Cheryl Ficker said in an email that the bank regularly reviews its rates and adjusts them based on a number of factors.

These include the cost that it pays to fund mortgages and the competitive landscape, she said.

Prev Next

MORE National ARTICLES

Floating Alien: US Man Jailed For Illegally Entering Canada On Air Mattress

Twenty-five-year-old John Bennett told police he had earlier tried to cross the border at Calais, Maine, but customs officers denied him entry because he was facing mischief charges in the U.S.

Floating Alien: US Man Jailed For Illegally Entering Canada On Air Mattress

A Quick Look At The Details Of The Proposed Changes To The Canada Pension Plan

The federal and provincial governments have a tentative agreement to expand the Canada Pension Plan, which would increase payments to retirees and raise premiums. Here are some details of the plan:

A Quick Look At The Details Of The Proposed Changes To The Canada Pension Plan

Job Market Bounces Back In August After Big Drop, Statistics Canada Reports

OTTAWA — The Canadian job market rebounded last month, gaining back much of the ground lost in July.

Job Market Bounces Back In August After Big Drop, Statistics Canada Reports

Gord Downie To Release Album And Graphic Novel Inspired By Residential Schools

"Secret Path" tells the story of a 12-year-old First Nations boy in Ontario named Chanie Wenjack, who died in 1966 after running away from the Cecilia Jeffrey Indian Residential School near Kenora, Ont.

Gord Downie To Release Album And Graphic Novel Inspired By Residential Schools

Toronto Doctor Neilank Jha Launches Concussion Hotline Staffed By Volunteer Specialists

Dr. Neilank Jha says there's a serious need for more education and information on concussions, which occur when the outside of the brain is bruised by impact with the inner skull.