The Bank of Nova Scotia on Tuesday became the last of Canada’s biggest lenders to raise its posted rate for a five-year fixed-rate mortgage – from 5.14 per cent to 5.34 per cent. They also increased the posted rates for other fixed-rate term lengths.
Wednesday, May 9, 2018
CANADIAN BANKS INCREASE MORTGAGE RATES
Canada’s Big Six banks have all increased their benchmark fixed-rate mortgage rate, a move analysts say could trigger a rise in the Bank of Canada’s qualifying mortgage rate as early as Wednesday, making it more difficult for some to take on home loans.
The Bank of Nova Scotia on Tuesday became the last of Canada’s biggest lenders to raise its posted rate for a five-year fixed-rate mortgage – from 5.14 per cent to 5.34 per cent. They also increased the posted rates for other fixed-rate term lengths.
The Bank of Nova Scotia on Tuesday became the last of Canada’s biggest lenders to raise its posted rate for a five-year fixed-rate mortgage – from 5.14 per cent to 5.34 per cent. They also increased the posted rates for other fixed-rate term lengths.
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