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CIBC, TD Canada Trust and Desjardins Group lower residential mortgage rates
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CIBC, TD Canada Trust and Desjardins Group lower residential mortgage rates


CIBC (TSX:CM), TD Canada Trust (TSX:TD) and Desjardins Group lowered their posted residential mortgage rates on Monday.
TD Canada Trust lowered the rate on its five-year closed mortgages by 0.05 of a percentage point to 6.45 per cent effective Tuesday. The one-year rate was reduced by 0.1 of a point to 6.4 per cent and its 10-year rate by 0.05 of a percentage point to 7.05 per cent.
CIBC matched the move by TD on its five-year mortgages, while it lowered its one-year rate by a tenth of a percentage point to 6.3 per cent. The 10-year rate at CIBC was lowered by 0.05 of a percentage point to 7.2 per cent.
Desjardins Group also lowered its five-year rate by 0.05 of a percentage point to 6.45 per cent and its one-year rate by a tenth of a percentage point to 6.3 per cent. Desjardin’s 10-year rate was lowered by a tenth of a point to 7.2 per cent.
Bank of Montreal (TSX:BMO) and Royal Bank (TSX:RY) moved last week to lower their residential mortgage rates.




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