Allan Bowerman Mortgages

10/18/2026

TD RAISES RATES TO CATCH UP TO OTHER CDN BANKS

TD raised several of its publicly advertised special mortgage rates Thursday, becoming the latest major bank to reprice amid elevated bond yields.

The bank increased its 1-year fixed rate by 20 basis points to 5.69%, while its 2- and 3-year rates rose 10 basis points to 5.39% and 5.24%, respectively. Its 5-year fixed rate increased five basis points to 5.39%.

TD also raised its 5-year variable rate and its advertised hybrid mortgage rate by five basis points.

The changes apply to rates advertised directly by TD and do not reflect rates offered through the mortgage broker channel.

Scotiabank made a smaller adjustment Wednesday, increasing its advertised two-year fixed rate by 10 basis points to 5.24%. The moves follow recent increases at BMO, CIBC, National Bank and RBC, with major-bank fixed rates generally rising by five to 20 basis points across select terms since early October.

The five-year Government of Canada bond yield, which influences fixed mortgage pricing, reached a 52-week high of 3.729% in September and closed Wednesday at 3.575%. It fell nearly 10 basis points to 3.479% early Thursday as investors moved into government bonds, although bank mortgage pricing can lag changes in the bond market.

09/23/2026

Canada’s Big Six banks jointly explore digital deposits network

(Bloomberg) — Canada’s six biggest banks launched a project to jointly explore digital money solutions, beginning with tokenized deposits, in what they say is a bid to bolster the country’s payments infrastructure.
The lenders announced the initiative, aimed at developing digital money based in Canadian dollars, in a statement Tuesday. A tokenized deposit is a digital representation of a conventional bank deposit that can be recorded and transferred using blockchain or similar technology, potentially allowing money to move and settle almost instantly and around the clock.
“This collaborative effort reflects a shared view that as digital money evolves globally, Canada’s payments infrastructure must continue to be competitive and secure,” according to the statement. The initiative comes as the Canadian government, led by Prime Minister Mark Carney, is pushing to strengthen Canada’s domestic economy and reduce its reliance on the U.S. amid heightened trade tensions.
The participants in the initiative are Royal Bank of Canada, Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and National Bank of Canada. CIBC and Bank of Montreal didn’t immediately respond to requests for comment, while the other lenders declined to comment further.
The country’s bank regulator said earlier this month that tokenized deposits are permissible under existing banking legislation, saying they are “not legally distinct from traditional deposits.” The Canadian project follows plans announced in earlier this year for a consortium of major U.S. banks — including the U.S. arms of Bank of Montreal and Toronto-Dominion — to create a shared network connecting tokenized bank deposits in a bid to counter the growing competition for deposits posed by stablecoins.

09/02/2026

“The Bank of Canada’s decision to hold its policy rate provides a measure of stability at a time when the economic outlook remains highly uncertain. Renewed trade tensions, geopolitical conflict and elevated costs at home continue to put pressure on Canadian families. For mortgage borrowers, predictability is welcome, but further policy relief is needed to support families facing financial pressure at renewal.”

- Lauren van den Berg, President and CEO of Mortgage Professionals Canada

05/26/2026

05/26/2026

Some great rates to be had whether you are putting down a little or putting down a little more

04/23/2026

I’m always getting asked about mortgage rate forecasting.
It’s almost impossible given the financial turmoil caused by the U.S. government from week to week.
Here are some forecasts on where the Prime Rate may go from several Canadian banks though. This will affect primarily variable rate and Home Equity Line of Credit holders.
We’ll see who is right.

01/17/2026

I’m really proud to be part of this great group of mortgage brokers and our commitment to the grass roots community. We have donated over $1.3M in just 7 yrs to local programs and charities as well as many individual families going through a rough spot. Thank you to each and every client of mine for your trust and allowing me to be a part of this journey of giving.

01/16/2026

Now we are past the fog of New Year’s Eve, what do you want out of this coming year, 2026. It’s time to map out what your personal vision of a successful year will be. What do you want to accomolish and what will it take for you to get there?