TD Canada Trust to hike mortgage rates

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 Tuesday.

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 Tuesday.

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-twentieth of a point, to 4.35 per cent and 5.14 per cent respectively.

One- and two-year closed mortgage rates are rising 0.15 of a percentage point to 3.50 per cent and 3.75 per cent, respectively.

TD Canada Trust will also raise its six-, seven- and 10-year closed mortgage rates by a quarter point.

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.