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RBC, TD, CIBC hike mortgage rates ahead of Bank of Canada rate decision

April Fong , of  BNN.ca Staff writes; Royal Bank of Canada and Toronto-Dominion Bank raised their posted five-year fixed mortgage rates, increasing borrowing costs for Canadian homebuyers ahead of the Bank of Canada’s interest rate decision next week. RBC raised its posted five-year fixed rate by 15 basis points to 5.14 per cent, with more rate hikes across …

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Toronto-Dominion Bank raising rates, variable rate mortgage customers to face increased costs

One of the country’s largest banks has moved a key prime rate up 15 basis points for variable-rate mortgage customers, a change that will affect some Canadians with floating rate products. Toronto-Dominion Bank began quietly telling the lending industry on Monday that its prime lending rate was going to jump from 2.7 per cent …

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Bank of Canada keeps low rate unchanged, admits growth slower than expected

OTTAWA — The Canadian economy is still trying to catch up to its potential, with low commodity prices and weak global demand keeping growth subdued and providing few incentives for the Bank of Canada to adjust interest rates. Governor Stephen Poloz, along with other members of the policy counsel, acknowledged as much on Wednesday …

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