TD Canada Trust announced their lowering their fixed mortgages rates effective tomorrow January 29, 2010. The biggest changes is the -0.20% change on the 3 year fixed rate to 4.30%. They are the most recent of the big banks dropping their posted rates this week.

TD’s recently lower mortgage rates include the following:

TD also has a 5 year fixed special on their website for 4.24%, which compares to the lowest 3.75% 5 year fixed available here. Their 5 year closed variable rate remains at Prime (2.25%).

Fixed closed mortgage rates are on the rise again as longer term bond yields have increased again, after rising last week as well. These yields are the main influence on fixed mortgage rates, and TD Canada Trust was the first bank to announce it was increasing it’s long term fixed mortgage rates. Interestingly they dropped the rate on their 1 year fixed rate at the same time indicating short term funds are not proving costlier at the moment.

It has been reported in the Toronto Star that the reason bond yields have been increasing is that the market is starting to price in an economic recover beginning later this year or next year. This occurrence hasn’t only been limited to Canada, as international bond yields have risen over that past few weeks.

TD Canada Trust’s latest mortgage rates are as follows and effective today, June 10, 2009:

We’ll keep an eye out if the other banks follow suit.

See how TD mortgage rates compare against the market.

TD Canada Trust has lowered its mortgage rates, effective April 28, 2009. This follows RBC mortgage rate cuts on April 25th, 2009.

The changes are as follows:

Fixed mortgage rate changes

Variable rate changes

Compare TD mortgage rates against the market now.