Five banks raise mortgage rates


Jun 02, 2009 05:21 PM Comments on this story (11) RITA TRICHUR BUSINESS REPORTER Canada's biggest banks are hiking key mortgage rates at time when the bond market is worried about risk and the longer-term threat of inflation. Royal Bank of Canada, Bank of Montreal, Toronto-Dominion Bank, the Bank of Nova Scotia and Canadian Imperial Bank of Commerce are all increasing their posted rates on five-year, fixed-rate mortgages by 0.2 per cent to 5.45 per cent. The changes at RBC and BMO take effect today, while new rates at TD, Scotiabank and CIBC will be available as of tomorrow. RBC,…

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