Mortgage Rates Start to Increase

Canada’s 5-year bond closed Friday 0.30% higher after a series of press releases coming from the US.

It’s the biggest jump in bond rates in over a year and it comes on top of strong gains over the previous few days.

The yield is now near an 11-month high, and that means fixed mortgage rate increases are around the corner.

Royal Bank has already announced a variety of fixed rate increases effective today.

If you’re home hunting and wondering if you should lock in a mortgage rate, don’t waste any more time.

Protect yourself now with a pre-approval.

Source: Prolink mortgage