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Mortgage rates lowered for second time in May

Despite forecasts of continued increasing mortgage rates, RBC and TD Bank will as of this Friday be lowering their 5 year fixed mortgage rates for the second time this month. The first came on May 11th when the rate lowered 15 basis points from 6.25, and as of today will be lowered another one tenth of a percentage point to 5.99.

It is expected that other Canadian Banks will make similar announcements.