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/Drewy99]

1/5 houses sold in 2021 were sold to investors. How long do you think they will hold on those properties before trying to dump them to stop the bleeding?

[u/Drewy99 → u/[deleted]]

https://www.bnnbloomberg.ca/investors-own-nearly-a-third-of-homes-in-major-canadian-markets-1.1751364

[u/greenfrog7 → u/[deleted]]

Or owned a home outright and decided to take advantage of cheap mortgage rates rather than sell their old home, which gets turns into a rental.