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CIBC increases some of its mortgage rate products
– moneysense.ca
TORONTO – CIBC has become the latest among the big banks to increase some of its mortgage rates.
The bank (TSX:CM) has raised its special offer, three-year fixed rate by 10 basis points to 2.59 per cent.
Meanwhile, its special offer, four-year fixed rate has also gone up by 10 basis points, to 2.84 per cent.
A CIBC spokeswoman says the changes came into effect on Jan. 9.
Mortgage rates are rising »
Special offer rates are discounted rates that are available only to qualified borrowers.
The move comes after similar rate increases from other lenders including Royal Bank (TSX:RY) and TD Bank (TSX:TD).
RBC said on Jan. 6 that its special offer, five-year fixed mortgage would rise by one-tenth of a point to 3.04 per cent. On Dec. 18, Toronto-Dominion Bank (TSX:TD) increased its one-year closed and four-year closed special rate, both by one-tenth of a point, or 10 basis points.
The post CIBC increases some of its mortgage rate products appeared first on MoneySense.
The bank (TSX:CM) has raised its special offer, three-year fixed rate by 10 basis points to 2.59 per cent.
Meanwhile, its special offer, four-year fixed rate has also gone up by 10 basis points, to 2.84 per cent.
A CIBC spokeswoman says the changes came into effect on Jan. 9.
Mortgage rates are rising »
Special offer rates are discounted rates that are available only to qualified borrowers.
The move comes after similar rate increases from other lenders including Royal Bank (TSX:RY) and TD Bank (TSX:TD).
RBC said on Jan. 6 that its special offer, five-year fixed mortgage would rise by one-tenth of a point to 3.04 per cent. On Dec. 18, Toronto-Dominion Bank (TSX:TD) increased its one-year closed and four-year closed special rate, both by one-tenth of a point, or 10 basis points.
The post CIBC increases some of its mortgage rate products appeared first on MoneySense.
New Year, New Rate Trends
– ratesupermarket.ca
RateSupermarket.ca’s expert mortgage panel calls for rate rise despite bond dive
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
New Year, New Rate Trends
– ratesupermarket.ca
RateSupermarket.ca’s expert mortgage panel calls for rate rise despite bond dive
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
