<<
    -  7-year fixed rate special  4.65%
    -  10-year fixed rate special 4.99%
    >>

TORONTO, March 22 /CNW/ - TD Canada Trust is lowering its residential mortgage interest rates on the 7 and 10 year terms, effective March 23, 2010.

"We're excited to present more choices for our customers with attractive special offers on our seven and ten year fixed rate mortgages. With the possibility of interest rates increasing in the future, more and more borrowers are looking for additional security and are considering fixed interest rates and longer terms. Knowing that your interest rate and payment amount won't change over the next 7 or 10 years could give you that extra peace of mind you're looking for'," said Chris Wisniewski, Associate Vice President, Real Estate Secured Lending, TD Canada Trust.

Locking into a longer term mortgage is one option to consider, but borrowers have other options too, and coupled with the right advice, they can manage their debt load and save money at the same time.

"TD has a full range of mortgage products to meet the various needs of our customers, but it's also important for homebuyers to do the research, talk to experts and ask the right questions to help figure out their needs, what they can afford and which financing option is best for them. That could be a ten year fixed rate mortgage, a five year variable rate product or something entirely different," added Wisniewski

The changes are as follows:

    <<
    Fixed Rates*         To:                 Change:
    --------------

    7-year closed                5.99%                  -0.31%
    10-year closed               6.30%                  -0.20%

    Special Fixed Rate Offers
    -------------------------

    7-year closed                4.65%                  -0.30%
    10-year closed               4.99%                  -0.21%

    *Rates calculated semi-annually, not in advance.
    >>

Special rate are at a discount to TD Canada Trust's posted rates

And for those that can't make it into their local branch to speak to one of our representatives, TD Canada Trust has a team of Mobile Mortgage Specialists who are available outside of normal banking hours to discuss the full range of mortgage options at a time and place that is convenient.