In case you missed it, both the TD Bank and Royal Bank Canada (RBC) have finally increased their fixed term mortgage rates by as much as one-quarter of a percentage point- effective now. For both banks, it is the five-year mortgages that will be most affected, as it is one of the most popular among Canadian homeowners. It will rise by 0.25 of a percentage point to 5.44 per cent. However, it is still possible to get a five-year fixed rate for 3.49% from DLC mortgage lenders, which is quite a bit lower than the bank rates.
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