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

Government Should Rethink B.C. Post-Secondary Funding: Teachers

VANCOUVER — British Columbia's post-secondary system is in crisis and is failing students by forcing them into careers they may not be suited for, says a group of university and college teachers.

Government Should Rethink B.C. Post-Secondary Funding: Teachers

Researchers Uncover Genetic Effects Of Prenatal Alcohol Exposure

The investigation, led by the University of British Columbia, analyzed DNA samples from 110 children with fetal alcohol spectrum disorder across the country.

Researchers Uncover Genetic Effects Of Prenatal Alcohol Exposure

Canadian Resident Trapped In Moscow Says Clerical Error Caused Government To Revoke Status

Julia Yakobi says the Aug. 11 decision has left her stranded in her native country without means of returning to the country she now considers home.

Canadian Resident Trapped In Moscow Says Clerical Error Caused Government To Revoke Status

Trial Begins For Man Accused In Mill Shooting In Nanaimo, B.C.

Michael Lunn and Fred McEachern were both killed when a lone gunman entered the Western Forest Products mill on the morning of April 30, 2014, and started firing his weapon.

Trial Begins For Man Accused In Mill Shooting In Nanaimo, B.C.

Expectations High For Proposed National Housing Strategy, CMHC

OTTAWA — The head of the Canada Mortgage and Housing Corporation says the combined cost of all the expectations for a national housing strategy would likely be too much for the federal budget to handle.