Fixed Interest Rates
Just an FYI, we had a couple of our AAA lenders raise their 5 year fixed rates yesterday by 5bps. The 5 Year Government of Canada Bond Yield closed at 1.01% yesterday. Most lenders like to earn at least a 150bps (1.50%) spread above this bond yield. Typical 5 year mortgage rates are still ranging from 2.49% – 2.74% (depending on the product you select).