A number of Canada’s largest banks are moving to increase some of their mortgage rates.
Scotiabank and the Royal Bank of Canada on Thursday became the latest to announce a round of increases covering various terms of what they call special discounted rates.
Those increases came a day after TD Canada Trust, the retail arm of TD Bank , boosted its “special” five-year closed rate a tenth of a percentage point to 3.39 per cent. The rate is a discount off the posted rate.
Scotiabank said its special discounted rates on two-year, four-year, seven-year and 10-year fixed-term residential mortgages were all going up a tenth of a percentage point effective June 22.