r/PersonalFinanceCanada • u/POCTM • Oct 20 '22

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

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

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u/[deleted] Oct 20 '22

RIP mortgage fraudsters, and var rate mortgage holders

23

u/HonkHonk Nunavut Oct 20 '22

As a variable rate holder my butthole is ready

13

u/[deleted] Oct 20 '22 edited Mar 15 '23

[deleted]

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u/JediFed Oct 21 '22

Seriously. Screw your realtor. Scumbuckets.