HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
Alberta
Garth Lyon Senior Mortgage Professional

Garth Lyon

Senior Mortgage Professional


Phone:
Address:
103, 901-8 Avenue, Canmore, Alberta

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

CIBC hikes interest rate

5/2/2018

THINK OUTSIDE THE BOX: The Canadian Imperial Bank of Commerce says it will raise its five-year fixed-rate mortgage rate Tuesday by 15 basis points.

Spokesman Tom Wallis says in an email that the rate will change from 4.99 per cent to 5.14 per cent.

Wallis says seven-year and 10-year fixed-rate mortgage rates will also rise 15 basis points, whereas one- and two-year rates will go up 10 basis points.

The Royal Bank of Canada and Toronto Dominion Bank announced last week that they would raise their benchmark mortgage rates.

The increases come as government bond yields rise. Fixed-rate mortgages tend to move with government bond yields of a similar term, reflecting the change in borrowing costs.

The Canadian Press    1 May, 2018

MY LENDERS

TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
Merix Equitable Bank RFA CMLS ICICI Bank Manulife
Attain Mortgage Haventree Bank HomeEquity Bank Lifecycle Mortgage Sequence Wealth One
Fisgard Capital Optimum Bridgewater Marathon Mortgages Vault