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If you’re a homeowner and need a mortgage approval, get it in soon. If you’re a broker who’s floating a rate for a client, take note.
TD has hiked rates 0.35% on 3-5 year fixed mortgages, effective tomorrow. Expect other big banks to follow.
TD also reduced their discount on a variable mortgage to zero!
On the short side of the rate curve, TD did the opposite and cut their 1-year rate by 3/10%.