TORONTO — TD Bank (TSX:TD) is raising the interest rate it charges customers with variable-rate mortgages.
The bank is increasing its TD Mortgage Prime rate to 2.85 per cent from 2.7 per cent, effective today.
Customers with fixed-rate mortgages are unaffected by the change.
TD's prime rate for other products with a variable interest rate, such as lines of credit, are not affected as that rate remains at 2.7 per cent.
