The Canadian Press
Several Canadian banks raised their posted rates for closed, fixed rate mortgages by up to 0.35 percentage points effective Wednesday.
Bank of Nova Scotia, CIBC and the Bank of Montreal all raised their five-year closed rate by 0.35 percentage points.
Increases for other mortgages ranging from one year to 10 years ranged from no change to 0.35 percentage points.
The change follows a similar move by the Royal Bank to raise rates last week.
Labour markets remain "frozen," economist says, while inflation is still above the Fed's target
Canada's Big Six banks brought in a collective $16.45B in profits in Q4
Nearly all first-time buyers surveyed say they find the homebuying process confusing
However, the picture may not be as bad as it appears, says DesRosiers managing partner
CSI brand will continue, Fitch Learning says
A look back at 2025 — Canadian stocks, AI and not-so-great expectations
Both the Bank of Canada and the Fed will make rate decisions next week
Plus, a new ETF provider enters the scene, other products announced, firms make fund changes