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RBC, TD to raise mortgage rates!

Updated Monday, March 29, 2010  ::  Views (978)

I just read an article online about the rising mortgage rates.  Here's a brief summary of the key points.

Effective Tuesday (March 30, 2010) two of Canada's biggest banks are increasing their residential mortgage rate.  It affects the closed 3, 4 and 5 year mortgages, with the biggest hike in the 5 year mortgage increasing it by 6/10 of a percent making it 5.85% from 5.25%.  With this increase, the average buyer purchasing a home worth $250,000 can expect to pay an additional $88 over a 25 year amortization. 

If you're planning a move and would like more information, feel free to give me a call at 519-621-2000 or email.  To read the complete article, click here.


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