A fairly big story this week in the mortgage and real estate industry, was the rise of Canada’s five-year bond rates. The reason it’s a significant change, is that many believe this is the sign of an upcoming increase in fixed-rate mortgages. We figured we would poll a couple of the mortgage experts on Twitter to get their perspective:
Sean McDowell, @Sean_in_Calgary:
A month ago the bond yields on a 5 year were around 1.17 and 05/28 they closed at 1.48. Hard to report billion 1/4 profits. The sky’s not falling though. Rates are still considerably lower.
Monsy Woodland, @MonsyW:
5 yr fixed is 2.79%, lowest I’ve ever seen a bank offer. Bond yields just increased, which indicates fixed rates may follow.
We will keep you informed on how this develops in the mortgage market. Feel free to share your perspective with us as well.
