TD Bank Raises Prime Rate For Variable Rate Mortgages To 2.85 Per Cent

Darpan News Desk The Canadian Press, 01 Nov, 2016 10:51 AM

TORONTO — TD Bank (TSX:TD) is raising the interest rate it charges customers with variable-rate mortgages.

The bank is increasing its TD Mortgage Prime rate to 2.85 per cent from 2.7 per cent, effective today.

Customers with fixed-rate mortgages are unaffected by the change.

TD's prime rate for other products with a variable interest rate, such as lines of credit, are not affected as that rate remains at 2.7 per cent.

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