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TD Canada Trust - Best Mortgage Rates

TD Canada Trust is the personal and small business banking division of TD Bank Financial Group with a network of 1,100 retail branches around the world
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Mortgage Rates From TD Canada Trust

If you are seeking a competitive mortgage rate for your next home, it is important to do the research so you’ll find the best and most affordable one.
Using Bestmortgagerates4u.ca’s comparison chart is a good way to do comparisons between other banks, brokerages,
and lenders directly against TD bank. Doing this will make sure that you will get the best mortgage rate possible.

Fixed Rate Closed Mortgages

A fixed mortgage rate helps you to ``lock-in`` the determined rate for a set period of time. Although you can get one that can last anywhere from 6 months to 25 years, the most popular term is 5 years.
Term
Rate
1 year fixed
Posted rate: 3.59%
2 year fixed
Posted rate: 3.74%
3 year fixed
Posted rate: 3.89%
Special rate: 3.09%
APR  : 3.12%
4 year fixed
Posted rate: 3.94%
5 year fixed
Posted rate: 5.34%
Special rate: 3.07%
APR  : 3.09%
6 year fixed
Posted rate: 5.64%
7 year fixed
Posted rate: 5.80%
10 year fixed
Posted rate: 6.10%
The Pros Of A Fixed Mortgage Rate: 
  • An added measure of comfort and security understanding of what your principal and interest will be for the length of your chosen period.
  • Financial planning and budgeting are better and more simple. 
  • Lower risk tolerance: A variable mortgage rate may be more unpredictable 
The Cons Of A Fixed Mortgage Rate: 
  • Pay more for keeping and locking the price 
  • Charged more for breaking the contract which may cost more over the long term.

Variable Rate Mortgages

A variable mortgage rate will be based on the mortgage lender’s prime rate. Their prime rate will be based on what the current economic conditions are. The benchmark interest rate is used by most major banks when pricing out short-term loans. The prime rate can increase or decrease from month to month and as a result, a variable mortgage rate will increase or decrease just the same.

Term
Rate
5 year open
Posted rate: 5.10%
APR : 5.12%
5 year closed
Special rate: 3.35%
APR : 3.37%
Pros Of A Variable Mortgage Rate:
  • Monthly payments will be lower as long as the prime rate doesn’t go higher than the fixed mortgage rate.
  • If you break the contract, you will have to pay 3 months of interest fees.
Cons Of A Variable Mortgage Rate:
  • There isn’t as much financial security because the prime rate can increase which will increase the monthly interest.
  • It is tougher to budget and plans things financially.

Overview Of TD Mortgage Rates

Everything that TD Canada Trust does, including its mortgage process, has been influenced by the tagline of the company that “Banking can be this comfortable.” TD provides fixed and variable mortgage rate options and uses many tools that can help you make your purchase decision as easy as possible. Some of the available tools include advice on how to save money to finance your home, a glossary of mortgage terms, specific information on the related homebuyers policy, and a very detailed checklist for an up and coming home buyer. 

Your interest rate will not change during your mortgage period if you choose a TD Canada Trust fixed-rate mortgage. On the other hand, choosing a variable mortgage rate will mean that your interest rate would fluctuate from time to time as a result of changes in the TD mortgage prime rate. In addition to these two mortgage options, which come with open and closed terms, TD Canada Trust provides other useful products such as a multi-unit residential mortgage, a high ratio mortgage, a six-month convertible mortgage, a farm mortgage, a Green mortgage, a 7% cashback mortgage, and a 5% cashback mortgage.

Lowest TD Mortgage Rates

You can buy a home with a 5 percent down payment with the TD’s High Ratio Mortgage. The 7% CashBank Mortgage and the 5% CashBack Mortgage apply respectively for TD’s 7-year and 6-year residential mortgage. TD Canada Trust will give you 7% of your mortgage (7% CashBack Mortgage) and 5% of your mortgage principal (5% CashBack Mortgage) in cash once your mortgage is funded. By doing this, it gives you the opportunity to go ahead and spend your money on things that will make your house into a home. This includes upgrades, appliances and furniture.

The Multi-Unit Residential Mortgage provides options to businesses and investors who want to purchase a residential property of no fewer than five units. Purchasing CSA certified solar panels or Energy Star certified equipment can qualify you for a Green Mortgage. This is where you will receive up to a cash rebate of 1.5 percent. TD’s Green Mortgage also provides you with a 1% reduction off your interest rate.