With the many talks of interest rates increasing in the future, more borrowers are looking to lock in a longer term mortgage at a fixed interest rate. To help customers out, TD has adjusted their interest rates.
|7 year closed||6.30%||-0.30%|
|10 year closed||6.50%||-0.20%|
Locking into a longer term mortgage is one option that homebuyers can consider, but there is also the option to help manage their debt. To manage their debt and save money in the long run, homebuyers should think about providing a larger down payment, purchasing a home that fits well within their budget and calculate their mortgage payment based on shorter amortization.
TD has introduced special fixed rate offers which might be able to be the option that you are looking for as a homebuyer.
Special Fixed Rate Offers
|7 year closed||4.95%|
|10 year closed||5.20%|
Rates are calculated semi-annually, not in advance. Special rates are at a discount to TD Canada Trust’s posted Rates.
If you want a long term mortgage, consider getting TD’s special rate offers, they are not something you should overlook.