Bond Yields Are Rising. Are Fixed Mortgage Rates Next?

Author: External Author | Categories: Mortgage Agent , Mortgage Services

Some of Canada’s Big 6 banks made headlines last week by lowering fixed mortgage rates. But might they soon have to pull a U-turn?

Bond yields rose sharply on Monday in the U.S. and Canada, and as CMT readers know, bond yields typically lead fixed mortgage rates.

In Canada, the 5-year bond yield closed at 1.069%, a 20-month high. That close was above a previous “high water mark,” and saw the 5-year yield return to pre-pandemic territory.

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Original Article Source Credits:    CANADIAN MORTGAGE TRENDS ,

Article Written By:  Steve Huebl

Original Article Posted on:  September 27, 2021

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