Ron Butler of Butler Mortgage has declared that the recent surge in bond yields this week, with the Government of Canada 5-year bond yield jumping to an intraday high of 4.46%, is not good news for mortgage providers who have been steadily raising mortgage rates. The only remaining discounted rates under 6% will be for default-insured 5-year fixeds, while two-year fixed terms are now all in the 7% range and 3-year terms are now starting to break the 7% mark. The biggest driver of this surge is due to markets re-pricing the “higher-for-longer
Continue to full article
