TD Hikes Mortgage Prime Rate

Hot Off The Press!! We just had a lender, TD Bank, make an interesting move this morning and hope it is isolated to them and them alone…but time will tell. TD is the first and only lender so far to increase their Mortgage Prime lending rate to 2.85%, effective immediately. On the other hand, they have lowered their discount to Prime minus .50%, or 2.35% today. As you can imagine, all those currently with TD for their variable rate mortgages have just had their rates increase 15 basis points. For those on variable, regardless of lender/institution, they may not see their payment increase, but what…