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Daily Mortgage Update – April 6

Optimism Returns: Markets rose across the board Monday, including 5-year rates in Canada’s bond market. Normally that would put upward pressure on funding costs, and hence fixed mortgage rates. But we’re simultaneously seeing risk/liquidity premiums (the extra lenders have to pay for mortgage capital) decline. Temporary Income: Some lenders are now considering government COVID-19 assistance as income when re-underwriting already-approved...