Tag Archive: mortgage briefs


Coronavirus Mortgage Update – March 17

Some quick hits on the mortgage/rate market (we’ll update these throughout the day): 5:14 p.m. Update Behold Sub-2% Variables:Existing variable-rate borrowers with prime – 1.00% are now enjoying 1.95% mortgage rates. Some homeowners have prime – 1.30% or lower. That’s an incredible 1.65%. New borrowers can still get prime – 1.00% or better but, as noted below, they have to...

Rates Hit by SARS 2.0 (?), the Dud First-Time Buyers Program & More

Today’s big mortgage headlines… Coronavirus Rate Sale Bond yields are getting killed as investors pile into bonds for safety. Traders fear a next coming of SARS (which authorities call the Wuhan coronavirus) could be deflationary. That’s weighing on rates as the inflation outlook is a key rate driver. Fear of the unknown has shaved 1/4 point off Canada’s 5-year bond...

Rates Hit 2-Month High + Other Rate Nuggets

Bond Bloodbath It was a grisly Friday the 13th in the bond market. Investors ran from bonds like they were being chased by Jason Voorhees with a chainsaw. U.S. 5-year bonds crashed (yields soared 12 bps), which drove Canada’s 5-year to a two-month high. For non-bondy types, bond selling drives up rates since the two move inversely. Catalysts for the carnage...

Bond Rates Surge Most in 2 Years + More Rate Nuggets

The latest intel from Canada’s mortgage market… Rates Bounce Bigly Canada’s 5-year bond yield catapulted to 1.53% on Friday. Its 11-basis-point gain was the biggest since June 2017. That establishes at least a short-term bottom and suggests the best fixed mortgage rates probably won’t drop much more near-term. In fact, if yields close up in the 1.60’s, the lowest 5-year fixed...