Why Canadian fixed mortgage rates are rising again
After briefly dipping below 4%, most five-year fixed mortgage rates at Canada’s major banks are back above the 4% mark, and could stay elevated for the foreseeable future, experts say.
Just two months ago, rates had fallen sharply following a plunge in bond yields driven by U.S. tariff concerns.
Canada’s 5-year fixed-mortgage rates are closely tied to the country’s 5-year bond yield, which in turn is influenced by the U.S. 10-year Treasury. That means domestic mortgage rates are often shaped more by global forces than by local economic conditions.
Why Canadian fixed mortgage rates are rising again
After briefly dipping below 4%, most five-year fixed mortgage rates at Canada’s major banks are back above the 4% mark, and could stay elevated for the foreseeable future, experts say.
Just two months ago, rates had fallen sharply following a plunge in bond yields driven by U.S. tariff concerns.
Canada’s 5-year fixed-mortgage rates are closely tied to the country’s 5-year bond yield, which in turn is influenced by the U.S. 10-year Treasury. That means domestic mortgage rates are often shaped more by global forces than by local economic conditions.