Mortgage providers are cutting fixed mortgage rates

Vancouver, Toronto, Calgary

2022/12/01

With bond yields ~60 bps off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward. Certain lenders and national brokerages have reduced rates by between 10 and 15 bps. The move follows the recent decline in the 5-year Government of Canada bond yield, which typically leads fixed mortgage rates. The 5-yr yield closed at 3.18% on 28th Nov, ↓ MoM from 3.77% and the 14-yr high of 3.89% reached in October.