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Monday Morning Interest Rate Update for May 19, 2020

by David Larock

I took the Victoria Day weekend off so there won’t be a new post this week. Instead, here are links to five of my most popular recent posts describing the unusual mortgage market we find ourselves in today and how best to navigate through it:

Toronto mortgage rates

The Bottom Line: Five-year fixed rates dropped a little last week while five-year variable rates were unchanged. The drop in our five-year fixed rates was caused largely by a reduction in lender risk premiums this time, and not by a drop in the Government of Canada five-year bond yield that our fixed rates are priced on. This is a slow-moving trend that I expect will continue in the week ahead. See you next week.

David Larock is an independent full-time mortgage broker and industry insider who helps Canadians from coast to coast. If you are purchasing, refinancing or renewing your mortgage, contact Dave or apply for a Mortgage Check-up to obtain the best available rates and terms.
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