Interest Rates on the Rise

It was fun while it lasted. Three weeks after fixed rates dropped, Canada’s second largest bank is leading the move back up.
TD is lifting 1- to 5-year fixed rates as much as 35 basis points.
The 5-year posted rate is rising from 5.34% to 5.69% and TD’s “Special” 5-year rate is moving to 4.44%.
Other banks shouldn’t be far behind.
The change takes effect tomorrow, April 5th. TD says its decision reflects “rising bond yields and the subsequent increase in the cost of funds.”
If you need a pre-approval for a purchase in the next 180 days, get it done today or tomorrow just to be safe.