Mortgages Rates – TD Canada Trust

A fixed rate mortgage offers stability, and with it, peace of mind. Once you’ve selected your term, you can be assured your interest rate won’t change for that period of time. 

You can choose the term length: 6 month, 1, 2, 3, 4, 5, 6, 7 or 10 years. 

Payment options:

A 6 month convertible mortgage is designed to give you maximum flexibility. If you’re not ready to commit, you only need to stick with your fixed interest rate for this minimal term.

When it comes time to renew, and we offer you a renewal, you can keep selecting a 6 month term until you’re ready to secure a longer-term interest rate. When you feel interest rates are favourable, you can choose to convert to a longer term any time you want.

Payment Options:

Go beyond your basic payment schedule. Make occasional prepayments, anytime you want with no charge. If you find you’re not making use of the chance to add extra payments, you can convert to a closed mortgage with a lower interest rate anytime you like at no charge.

(If you convert to a closed mortgage, you cannot select a 6 month term.)

Payment options:

Like with any TD variable rate mortgage, your interest rate will fluctuate with changes to the TD Mortgage Prime Rate, but the amount of your principal and interest payments will stay the same.

If TD Mortgage Prime Rate goes go down, more of your principal and interest payment will go toward paying down your principal. If the TD Mortgage Prime Rate goes up, more of your payment will go toward paying the interest.⁸

You can lock in your interest rate by converting to a fixed rate mortgage at any time. Term selected must be at a minimum the lesser of three years or the remaining period of the original term.

Payment options:

This mortgage has set payments, like all mortgages, but you are free to increase them by any amount, at any time. Of course, if you increase the amount you pay, you’ll save money on overall interest.

With a variable rate mortgage, the interest rate can fluctuate along with any changes in our TD Mortgage Prime Rate. Your principal and interest payment will stay the same for the term, but if the TD Mortgage Prime Rate goes down, more of your payment will go towards the principal. If the TD Mortgage Prime Rate goes up, more will go towards interest. If your interest rate increases so that the monthly payment does not cover the interest amount, you will be required to adjust your payments, make a prepayment, or pay off the balance of the mortgage.

You can also lock in your interest rate by converting to any fixed rate mortgage at any time. Your regular payments will remain the same.

Payment options: