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Lower Five-year Fixed Rates Might Drive Stronger Sales This Spring

Friday, February 7, 2020   /   by Mark Silenzi

Lower Five-year Fixed Rates Might Drive Stronger Sales This Spring

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With the Canadian housing sector having overall good prospects this year, the spring market might see intensified activity if other top lenders emulate Toronto-Dominion Bank’s decision to cut its posted five-year fixed mortgage rate, according to veteran industry observer Rob McLister.


Earlier this week, TD Bank stated that it has set its new five-year posted rate for fixed-rate mortgages to 4.99%, from the previous 5.34%. This came in the wake of the five-year government bond yield’s decline to 1.34%, from the 1.70% in mid-December – a development spurred in part by fears about the coronavirus.
Remax Escarpment Realty Inc Brokerage - Silenzi Real Estate Team
Mark Silenzi
2180 Itabashi Way
Burlington, ON L7M 5A5
905-961-0563

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