The financial institution's latest fixed-mortgage rate on five-year terms is now 4.99 per cent, the lowest among Canada's big banks. TORONTO — TD Bank lowered its posted five-year fixed mortgage rate on Tuesday to narrow the gap between the benchmark and the special rates it offers customers. “Based on current market conditions, lower funding costs have led to a growing variance in customer rates versus posted rates,” said bank spokeswoman Ana Aujla by email. “This rate decrease aligns TD’s five-year fixed posted rate more closely with current customer rates.” The posted rate is significant for the federal mortgage stress test, which is based on the posted rates at the big Canadian banks. The posted rate is also used for calculating mortgage penalties.

Source: Huffington Post February 05, 2020 12:22 UTC