TORONTO — TD Canada Trust (TSX:TD) is raising some of its fixed-term mortgage rates by as much as one-quarter of a percentage point, beginning Wednesday.
The bank’s five-year mortgage, one of the most commonly chosen by homeowners in Canada, will rise 0.25 of a percentage point to 5.44 per cent.
TD Canada Trust is also raising its three- and four-year rates by one-quarter of a point, to 4.25 per cent and 5.19 per cent respectively.
One- and two-year closed mortgage rates are rising 0.15 of a percentage point to 3.35 per cent and 3.60 per cent, respectively.
TD Canada Trust will leave unchanged its six-, seven- and 10-year closed mortgage rates as well as the one-year open mortgage rate and six-month convertible rate.
Fluctuations in fixed-term mortgage rates usually reflect changes in the bond markets, while short-term rates and variable rates linked to prime are more influenced by the Bank of Canada’s policy decisions.