TD Bank Published Better Mortgage Interest Rates on February 20, 2014

This Thursday, the benchmark 30 year fixed mortgage interest rates at the best Canadian home loan provider, Toronto Dominion Bank (NYSE: TD), took a detour from its usual path and occupied a new, improved position. As per the new mortgage data released by the bank on February 20, 2014, the ideal home purchase and refinancing loans are coming out at reduced rates, which is certainly a pleasant piece of news for the potential borrowers.

Today, the seekers of standard, long term, 30 year fixed rate mortgage home loans have to deal with an interest payment of 4.312% and agree to an annual percentage yield of 4.424% for locking in the deal. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loans can be secured at an interest price of 3.438% today, along with an annual return rate of 3.632%.

The seekers of variable interest rates can go for the ideal, 3 year adjustable rate mortgage home loan schemes, which are now being traded at a starting interest rate of 2.562% and an APR yield of 2.812% today. On the other hand, the 5 year adjustable rate mortgage home loans can be locked in at an interest price of 3.062% to start with and an APR yield of 2.961% today.

In the more flexible lending section, the interested customers can find the best 7 year adjustable rate mortgage home loans coming out at an interest price of 3.312% and carrying an annual return of 3.113% to begin with. However, the most flexible, 10 year adjustable rate mortgage plans can be locked in at a starting interest rate of 3.562% and an APR yield of 3.352% during the starting years.

The mortgage shoppers, who are looking forward to refinance their existing investments, the bank is now offering the 30 year fixed rate mortgage home loan plans at an interest rate of 4.562% and an APR yield of 4.676% today. Alternatively, the 15 year refinancing fixed rate mortgage plans can be secured at a lending cost of 3.688% and an APR yield of 3.883% today.

The admirers of flexible financing options can secure the impressive 5 year refinancing adjustable rate mortgage packages at a starting interest rate of 3.312% today and an APR yield of 3.048% on the initial amount of loan taken from the bank. However, the more flexible, 7 year refinancing adjustable rate mortgage deals are up for grabs at an interest cost of 3.562% and an APR yield of 3.231% to start with. 

Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.

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About the author

Rob is a analyst and reporter covering stocks and business news.