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Fixed Interest Rates May Rise

Canadian employment numbers far surpassed the economists job growth estimates last week and the bond markets have reacted by pushing up 5-year yields to a new 8-month high.

This probably won’t have much impact on variable rates in the short-term, but fixed rates are now under pressure.  That means some or most lenders will lift rates this week.

If you are looking to purchase/refinance in the next 4 months it would make sense to preserve today’s lower fixed rates. 

See the following article.

 

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Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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