Bond rates , the mysterious puppeteers behind fixed mortgage pricing , have been on a mission since June.
That mission is to climb enough to compensate investors for escalating inflation risk and fiscal recklessness, especially among the purse-string holders in Washington, D.C.
Canada’s 5-year yield , for example — which mortgage pros watch the way surgeons watch a heart monitor — looks poised to make a two-year high.
In turn, we’ve already seen 17 lenders hike fixed rates this week, with more to follow.
It’s quite possible that leading rates — which sat in the low four-per-cent range a couple of weeks ago — might all be in the mid-or-high fours next week.
You can still find a few straggler bargains out there, but if a fixed rate is on your shopping list, lock in before they disappear.
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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