The bond yield is back to where it was a month ago for the 5-year bond, which has prompted most banks to increase their mortgage rates after having dropped them.
With renewed concerns over inflation the bond yields have increased about 0.3% during the last week. The variable mortgage rates have stayed the same, and the outlook for the next 12 months is that variable will outperform fixed-rate holders.
Just wait for the next piece of news that shows things aren't so rosy in the USA or here, and those fixed rates will drop back down.
If you need help arranging your mortgage please give me a call. I would be happy to help!
Cheers,
Chris
--
Christopher Bisson
The Mortgage Centre
866-838-4366 x1003
www.mortgageconcierge.ca
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