Banks Lower Mortgage Rates
December 20th, 2006
TORONTO (CP) - Several of Canada's big banks are lowering their posted residential mortgage rates.
TD Canada Trust (TSX:TD) is lowering the rate on its five-year closed mortgages by 0.05 of a percentage point to 6.45 per cent effective Tuesday. The one-year rate was reduced by 0.1 of a point to 6.4 per cent and its 10-year rate by 0.05 of a percentage point to 7.05 per cent.
CIBC (TSX:CM) m ...