Mortgage rates rise at TD and CIBC

TD and CIBC have raised their mortgage rates,  other banks will most likely follow, their 5 year fixed rate has risen to 5.44 per cent per anum. In March new reforms are being implemented changing the maximum term for mortgages from 35 years to 30 years, meanig monthly payment will rise. . Mr Alexander chief economist at TD Bank does not esxpect a shock to the housing market rather he sees the housing market going sideways.