TD cuts posted five-year mortgage rate GlobeBusiness
. TD’s customer, or special, rate stands at 3.09 per cent, or 3.11 per cent with annual carrying fees included.The posted rate is still significant for the federal mortgage stress test, which is based on the posted rates at the big Canadian banks.
Posted rates at Canada’s other big banks remain somewhat elevated, but they often follow one another in mortgage rate movements. Mortgage rates trended downwards last year after the U.S. Federal Reserve cut interest rates three times and Canadian benchmark bond yields trended lower. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
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