This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


Banks raise ‘special discounted’ fixed mortgage rates

June 21, 2013

Banks raise ‘special discounted’ fixed mortgage rates

 

 

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.

Its special four-year, fixed-term special rate, for example, rose to 3.09 per cent.

Royal Bank said is special discounted four-, five- and seven-year rates were going up June 24 by two-tenths of a percentage point to 3.29, 3.39 and 3.79 per cent respectively.

Royal also said its posted three-year closed rate would go up a tenth of a percentage point to 3.75 per cent.

 


Tagged with: banks raise special discounted fixed mortgage rates
| | Share

Leave a comment...


Lucais Shepherd
Broker of Record

Lucais Corporation
Brokerage
Independently owned and operated

Phone: 416-805-3900
Powered by Lone Wolf Real Estate Technologies (CMS6)