Five Ways That A Sustained Period of Ultra-Low Interest Rates Can Hurt Our Economy – Monday Morning Interest Rate Update (October 19, 2015)

I hope you had a relaxing Thanksgiving weekend. We couldn’t have asked for better weather in the GTA! Five-year Government of Canada bond yields rose seven basis points last week, closing at 0.87% on Friday. Several lenders have recently raised their five-year fixed rates, but you can still find them in the 2.49% to 2.59% range. Five-year fixed-rate pre-approvals remain at rates as low as 2.64%. Five-year variable-rate mortgages are available in the prime minus 0.65% to prime minus 0.75% range, depending on the size of your mortgage and the terms and conditions that are important to you. That said, most lenders have lowered their discounts on variable-rate mortgages to prime minus 0.50%, so I don’t expect these more deeply discounted variable rates to be around for much […]

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