TD Canada Trust currently advertises a discounted rate of 3.69 per cent for its five-year fixed-rate mortgage. This is a slight decrease down from the 3.79 per cent rate that had been in effect since August.

In an email sent out to its customers, the financial instiution said that it constantly reviews and reconfigures its rates in order to “remain competitive and provide our customers with flexible mortgage options and the right rate to meet their individual needs.”

Rate reductions have become a trend amongst Canadian banks lately, with the Royal Bank of Canada having started it. Recently, RBC also modified the rates on a number of their mortgages, dropping them to 3.69 per cent. Bank of Montreal and Scotiabank soon followed suit.

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