Thanks to the dive in oil prices , Canadian bond yields have simmered down a bit. That’s giving some lenders a little room to ease fixed rates incrementally.
Falling rates have been mostly for default insured borrowers, however. Banks are maintaining plumper margins on uninsured financing — where there’s less competition.
Setting oil aside, the week’s headline was a U.S. Federal Reserve that has grown noticeably twitchy about inflation . Its hawkish turn could add support for bond yields, even on this side of the border. But a lot rides on if and how fast inflation unwinds after the U.S.-Iran peace deal.
For the moment, insured borrowers have an array of fixed-rate choices under four per cent (e.g., Citadel Mortgages with 3.83 per cent).
On the uninsured side, there are still no advertised fixed offers that begin with a three, although Ratebuzz (in Ontario) and credit unions (in Manitoba and B.C.) will get you close, if you live in those regions.
Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister .
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