CIBC increases mortgage rates

(January 7 – 14:35 ET) – CIBC has announced the following increases in mortgage rates:

Six month convertible 7.55 per cent, up .25 per cent
Six month open 8.00 per cent, up .25 per cent
One year open 8.20 per cent, up .25 per cent
One year closed 7.60 per cent, up .25 per cent
Two year closed 8.10 per cent, up .25 per cent
Three year closed 8.30 per cent, up .25 per cent
Four year closed 8.45 per cent, up .30 per cent
Five year closed 8.55 per cent, up .30 per cent
Seven year closed 8.80 per cent, up .30 per cent
Ten year closed 9.10 per cent, up .30 per cent