By The Canadian Press

TORONTO - Several Canadian banks (TSX:BNS, TSX:CM, TSX:BMO) raised their posted rates for closed, fixed rate mortgages by up to 0.35 percentage points effective Wednesday.

Scotiabank, CIBC and the Bank of Montreal all raised their five-year closed rate by 0.35 percentage points. Increases for other mortgages ranging from one year to 10 years ranged from no change to 0.35 percentage points.

The change follows a similar move by the Royal Bank to raise rates last week.