It appears that things may be on the verge of changing in the world of fixed mortgage interest rates. Below is some information about bond rates in Canada and their effect on fixed mortgage interest rates.
• Canadian 5 yr bond yields + .07bps to 2.09 - Four weeks ago it was 1.86. The spread today vs the 5 year rate is now down to 1.67%.
• http://www.financialpost.com/markets/market-data/money-yields-can_us.html?tmp=yields-can_us NEW LINK
The yield, rate of return on your bond, can be read through a yield curve, which is the pattern of yields on bonds. This increase in bond yield is something to watch. If the bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise!
For more information about interest rates, or to apply call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.
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