CIBC hikes debt rates, too

The Canadian Imperial Bank of Commerce says it will lift a five-year fixed-rate debt rate Tuesday by 15 basement points.

Spokesman Tom Wallis says in an email that a rate will change from 4.99 per cent to 5.14 per cent.

Wallis says seven-year and 10-year fixed-rate debt rates will also arise 15 basement points, since one- and two-year rates will go adult 10 basement points.

The Royal Bank of Canada and Toronto Dominion Bank announced final week that they would lift their benchmark debt rates.

The increases come as supervision bond yields rise. Fixed-rate mortgages tend to pierce with supervision bond yields of a identical term, reflecting a change in borrowing costs.

Article source: http://www.cbc.ca/news/business/cibc-mortgage-rates-1.4642819?cmp=rss