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Higher Mortgage Interest Rates at TD Bank on February 25, 2014

Higher Mortgage Interest Rates at TD Bank on February 25, 2014

Business

Higher Mortgage Interest Rates at TD Bank on February 25, 2014

Defying the movement of its fellow mortgage lenders, the Canadian mortgage provider, Toronto Dominion Bank (NYSE: TD), quoted higher benchmark 30 year fixed mortgage interest rates on February 25, 2014. As of now, the standard home purchase and the home refinancing deals are being advertised at hiked interest rates, which will certainly affect the overall demand of the bank’s loan products in the market.

In the standard, long term financing division, the 30 year fixed rate mortgage home loans are published at an interest rate of 4.438% today and are carrying an annual percentage rate of 4.551%. However, for the seekers of short term financing options, the bank is now offering its best 15 year fixed rate mortgage options at a lending rate of 3.438% and an annual yield of 3.632% today.

As far as the variable rate home loans are considered, the bank currently publishes the 3 year adjustable rate mortgage deals in its loan books at a starting interest rate of 2.562% and an APR yield of 2.812%. However, the 5 year adjustable rate mortgage home loans can be locked in an interest rate of 3.062% and an annual return rate of 2.961% to begin with.

Shifting sights towards the more flexible adjustable rate mortgage loans, the interested borrowers can spot the 7 year flexible home loan deals published against an interest charge of 3.312% and a starting APR yield of 3.113%. The most flexible, 10 year variable home loan schemes are up for grabs at an interest cost of 3.562% today, along with an annual percentage return of 3.352% to start with.

In the refinancing home loan division, TD Bank caters to the needs of the interest mortgage shoppers by offering its popular 30 year fixed rate mortgage home loan packages at an interest cost of 4.688% and an APR yield of 4.803%. The relatively shorter, 15 year counterparts of the 30 year refinancing fixed rate home loans can be secured at a lending rate of 3.688% and an APR yield of 3.883% today.

For the potential mortgagors who are looking for more flexibility in terms of interest rates, the 5 year refinancing adjustable rate mortgage loans would be an ideal pick at an interest rate of 3.312% and an APR yield of 3.048% to begin with. On the other hand, the more flexible, 7 year refinancing adjustable rate mortgage loan packages can be locked in at a lending price of 3.562% and an APR yield of 3.231% on the initial amount of home loan sanctioned by the bank. 

Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.

About Stephany Wilson

Stephany Wilson covers business and finance related news.

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