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TORONTO — Canadian mortgage brokers say it’s unlikely the U.S. Federal Reserve’s rate hike will cause any significant boost in mortgage rates north of the border, even as TD Bank raised two rates Wednesday.

“The bond market is pretty smart,” says Steve Pipkey of Vancouver-based online brokerage Spin Mortgage.

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“They’ve already priced in this U.S. Fed increase.”

TD announced changes to some of its mortgage rates shortly after the U.S. central bank boosted its key interest rate by a quarter point to a range of 0.5 to 0.75 per cent.

It raised its four-year closed special rate by 0.15 of a percentage point to 2.69 per cent and increased its five-year closed special rate by a 0.1 of a percentage point to 2.94 per cent.