Mortgage Rate Update June 17, 2013

Lately there has been a lot of talk about interest rates. When the Bank of Canada decided to stand pat recently a lot of people were wondering if rates were going to stay flat indefinitely.

But wait, don’t forget that fixed interest rates are much more closely linked to bond yields as opposed to the overnight rate…so even when the Bank of Canada does nothing, rates can still go up or down.

In fact, over the past 4-6 weeks bond yields have gone up tremendously and as a result, most fixed-rates – especially the five year fixed rate – have gone up.

Our friends over at First Foundation have the latest canadian mortgage rates and you can also subscribe to the interest rate rss feed if you’d like.