TD bank announced today that it will be raising fixed term mortgages on Tuesday April 5th. Rates are expected to increase by .35% with the 5 year posted rate (used for qualifying 1 to 4 year fixed and variable mortgages) increasing to 5.69%. So far no other lender has announced a rate increase however a lender never increases rates alone so expect all lenders to follow suit.
If you do not have a pre approval in the system now would be a good time to do. The variable rate which is controlled by the Bank of Canada still remains the same. The next schedule meeting for the Bank of Canada is in May.
Have a great week