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.
“Toronto’s Condo Authority”