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A Toronto-Dominion Bank (TD) sign is seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016 (Chris Watti/Reuter)
A Toronto-Dominion Bank (TD) sign is seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016 (Chris Watti/Reuter)

TD hikes mortgage rates, but won’t follow RBC’s lead Add to ...

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Toronto-Dominion Bank became the second major lender to hike mortgage rates amid soaring bond yields and federal government rule changes – though it is taking a more measured approach than rival Royal Bank of Canada.

TD has raised the cost of its four-year and five-year fixed-rate mortgages by 5 and 10 basis points, respectively. (A basis point is 1/100th of a percentage point.) Its fixed four-year mortgages now charge 2.44 per cent annually, and its fixed five-year mortgages now charge 2.69 per cent.

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