Bank of Canada Governor Poloz Keeps the Market on Its Toes
March 9, 2015The Real Reason the U.S. Fed Is No Longer Going To Be “Patient” About Raising Its Policy Rate
March 23, 2015
Thanks to a weekend filled with March Break family activities, today’s post will be short and sweet.
Five-year Government of Canada bond yields fell by sixteen basis points last week, closing at 0.84% on Friday. Five-year fixed-rate mortgages are offered in the 2.59% to 2.69% range, and five-year fixed-rate pre-approvals are available at rates as low as 2.74%.
Five-year variable-rate mortgages are available in the prime minus 0.65% to prime minus 0.80% range, depending on the terms and conditions that are important to you.
The Bottom Line: My overall view of our economic tea leaves remains unchanged. I continue to believe that our fixed and variable-rate mortgages are likely to remain at or near today’s ultra-low levels for the foreseeable future.