Bond yields bouce back - Mortgage rates Fall
Bond yields in Canada bounced back up yesterday resulting in several Canadian banks have reduced their 5 year posted rate back to 6.10% (from last weeks 6.25%). Althought the Bank of Canada rate is still showing 6.25% it may come back down again shortly too.
currently available rates are:
Prime: 2.25%
Variable: Prime -0.50 = 1.75%
1 Year Fixed = 2.65% (posted rate: 4.05%)
3 Year Fixed = 3.75% (posted rate: 5.10%)
5 Year Fixed = 4.39% (posted rate: 6.10%)
10 Year Fixed = 5.80% (posted rate: 6.90%)