News: Vancouver Real Estate Market

The Big Banks Raise Interest Rates

 With rising costs of borrowing on the bond market the big banks (TD and RBC) decided to raise mortgage rates.


The biggest increase in rates are the 5 to 10 year closed mortgages , which will increase by 0.35 percentage points starting Tuesday.


The rate for a five-year closed mortgage will rise to 5.69 percent.


The move comes three weeks after TD cut mortgage rates, citing lower bond yields.


RBC's five-year closed mortgage moved up 0.35 percentage points to 5.69 percent. 


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.