Mortgage Rates Start to IncreaseCanadaís 5-year bond closed Friday 0.30% higher after a series of press releases coming from the US.
Itís 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 youíre home hunting and wondering if you should lock in a mortgage rate, donít waste any more time.
Protect yourself now with a pre-approval.
Source: Prolink mortgage