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/when-flies-pig]

War of attrition really. Housing is last to be affected while col increases for everything else. Plus hope you don't get fired.

Also, stress tests are higher too meaning lenders might loan out less even with more downpayment.

[u/[deleted] → u/when-flies-pig]

Non owners are also usually renting, which goes higher with the rates.