CBC News – Three of Canada’s biggest banks have hiked the rate on their benchmark five-year mortgage, and more are expected to follow suit.

The Royal Bank of Canada raised its posted rate for a five-year, fixed-rate mortgage by 15 points to 5.14 percent, the bank confirmed to CBC News in an email.

Shortly after, Toronto-Dominion Bank did the same, matching Royal Bank’s new rate.

More at CBC News

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