Recent market drops have influenced mortgage rates, particularly fixed mortgages, which are linked to bond yields. As Canadian five-year government bond yields fell to 2.9%, fixed mortgage rates are anticipated to decrease as well. Currently, the lowest insured five-year fixed mortgage rate is 4.29%, the lowest since last May. With further reductions expected, mortgage shoppers are advised to explore rate hold options to secure today's low rates for up to 120 days.
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