Bond Yields Are Rising. Are Fixed Mortgage Rates Next?
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.
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: September 27, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/09/bond-yields-are-rising-are-fixed-mortgage-rates-next/