RBC, TD, CIBC RATE HIKES
Monday Jan 15th, 2018Share
The Royal Bank of Canada raised its posted rate for a five-year, fixed-rate mortgage by 15 points to 5.14%, and TD also matched The Royal Bank’s new rate. CIBC’s five-year posted rate had been at 4.89% and when The Royal Bank and TD raised to 5.14% CIBC hiked its five-year rate to 4.99% so that’s three of Canada’s biggest banks who have hiked the rate.
Scotiabank is reviewing its rates and most likely will make changes. The Bank of Canada will announce the next decision on its policy rate on Wednesday Jan 17,2018, and there could be further mortgage moves to come.