Several Canadian banks raised their posted rates for closed, fixed rate mortgages by up to 0.35 of a percentage point, effective Wednesday.
Bank of Nova Scotia , Canadian Imperial Bank of Commerce and Bank of Montreal all raised their five-year closed rate by that amount.
Increases for other mortgages ranging from one year to 10 years ranged from no change to 0.35 of a percentage point.
The change follows a similar move last week by the Royal Bank of Canada to raise rates.
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