Following TD’s increase to its prime rate, RBC announces to increase their fixed rates across the board, effective today.

This might be a signal that all other lenders will soon to follow the measure to increase their prime rate.

Due to the higher bond rate market, the 5-year fixed rate has jumped about 25 basis points amongst most of the lenders.

Will the increased rates and tightened mortgage rules cool down the over-heated real estate market? Only time can tell.

At the moment, Valueland still has access to a few lenders with exceptionally low interest rates. Please contact us for more details.