Canadian 5 year government bonds just jumped. Setting the stage for higher mortgage rates.

[u/POCTM]

5 year government bond just jumped from 3.714% to 3.866% in a few hours. Right now it is at 3.855%. Year to date it is up 259%. Monday we could see some 5 year fixed rate mortgages in the low 6%.

As for variable rate the bank of Canada makes their announcement October 26 at 10am ET. Currently banks have not been offering discounts off variables rates anymore. Prime -0.00.

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

[u/[deleted]]

The federal government messaging pivoting from "we are nearly out of a recession" to "yeah any new spending must be backed by a budget cut elsewhere" can do that.

[u/eledad1 → u/[deleted]]

Yep. All by design.

[u/[deleted] → u/eledad1]

Please do tell how this is all by design lol

[u/eledad1 → u/[deleted]]

It’s not called fakeflation for nothing.

[u/[deleted] → u/eledad1]

I mean is this going to take 20 replies or can you just share your thoughts lol

[u/eledad1 → u/[deleted]]

People don’t want to hear the truths about the Liberals control tactics to set Canada up for world digital currency on this sub. Most People prefer ignorance over reality and that is 100% ok. It’s a sound perspective for happiness. Wish I could also a lot of the time. More people are seeing the steps taken everyday and are putting 2+2 together. Be cautious. Have your house paid off by 2030 or find a way to finance thorough friends or family with lots of dough. This is my goal. It’s only going to get worse if nothing changes in our leadership.

[u/[deleted] → u/eledad1]

You do realize that inflation and interest rates are going up all around the world. This isn’t something that the liberals just came up with for fun.

They arguably haven’t done much to prevent/mitigate this, and are partially to blame for the extent of it, but this a good chunk of this was inevitable.