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Royal Bank, TD and CIBC hike mortgage rates [CBC (Canadian Broadcasting Corporation)]

ROYAL BANK of CANADA (RY)  More Company Research Source: CBC
Last royal bank of canada earnings: 2/23 06:00 am Check Earnings Report
US:NYSE Investor Relations: rbc.com/investorrelations/index.html
PDF Royal Bank, TD and CIBC raise their fixed 5-year mortgage rates Other major banks expected to follow, as bond interest rates rise, increasing lending costs Three of Canada's biggest banks have hiked the rate on their benchmark five-year mortgage, and more are expected to follow suit. The Royal Bank of Canada raised its posted rate for a five-year, fixed-rate mortgage by 15 points to 5.14 per cent, the bank confirmed to CBC News in an email. Shortly after, Toronto-Dominion Bank did the same, matching Royal Bank's new rate. Canada's other three major banks — Scotiabank, Bank of Montreal, and CIBC — have yet to match the two leaders, but they are expected to soon based on what's happening in the bond market. CIBC's five-year posted rate had been 4.89 per cent, just below that of its rivals. When Royal Bank and TD moved to 5.14, CIBC hiked its five-year rate to 4.99. Scotiabank says it is reviewing its rates and will likely soon make changes. Banks finance their mortgages via a variety of [Read more]

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