06/29/2017
Mortgage Rates could be on the rise! Get your 120 day pre-approval to get an interest rate lock-in.
There has been a tremendous rise in the Government of Canada (GOC) 5 year bond over the last 3 weeks. On June 9th the GOC was at 0.94% and rose to 1.12% on June 16th. As of this morning the GOC is now trading at 1.36% a rise of 0.24% since June 16th with the majority of this increase over the last 5 business days. It is anticipated that present mortgage rates are not sustainable at the current GOC levels and that mortgage rates will rise.