Royal Bank and TD Bank to Raise Fixed Rates

Today I was sent an email from Bryan Guertin of Mortgage Intelligence (905-842-4320), regarding mortgage rates. 

This is what he had to say.




(Below is an email from Bryan Guertin of Mortgage Intelligence)

Royal Bank & TD Bank have increased  their  5 Year fixed term by 60 bases points ,effective tomorrow (March 30/10).

This means their 5 years discounted rate will go from 3.89% to 4.55%

My rates have not moved yet, so if you are are looking for fixed rates, then I suggest that you call and get themselves pre-approved with a rate hold of 120 days.

VARIABLE & any fixed rate term less than 5 years-effect April 19th- with the new rules from the Finance Dept., the qualifying rate will become Bank of Canada’s posted rate which is today 5.25%

Our qualifying rate today on a variable is the 3 year posted rate of 3.75%.  After this date, purchasers who want a variable will have to qualify at a much higher rate & this will push more people into a  5 year fixed mortgage as they will no longer qualify at the new higher rate.

On the 5 year fixed term, the qualifying rate remains the same, the rate they get for the full 5 years.

So, if you are looking to buy, certainly try to buy before Apr.19th so you are not affected by the new qualifying rate. The closing date can be after April 19th.


If you are looking to buy or sell, via Oakville Real Estate, Burlington Real Estate or any where else from Halton to Hamilton, contact Brad Stevenett @ 905-407-7381 or

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Brad Stevenett

Brad Stevenett

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CENTURY 21 Miller Real Estate Ltd., Brokerage*
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