Mortgage rates start moving again after holiday slumber

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Mortgage rates start moving again after holiday slumber

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Mortgage rates are waking up from their Christmas slumber and are finally starting to rise. Depending on whether you need a fail-safe or uninsured mortgage, these steps go in opposite directions.

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The following conditions have changed at the most aggressive national lenders in the last week:

  • Three-year fixed term (uninsured): +15 basis points
  • Five-year fixed term (uninsured): +10 basis points
  • One-year fixed term (insured): -30 basis points
  • Two-year fixed term (insured): -10 basis points
  • Three-year fixed term (insured): +10 basis points
  • Five-year fixed term (insured): -5 basis points

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Bond yields, which typically determine interest rates on fixed-rate mortgages, have been zigzagging for months. Perhaps the upcoming economic measures will trigger a new trend. We have a number of important events coming up, including the announcement of two key interest rates by central banks (both on January 29th), new trade policies from Trump (after the inauguration on January 20th), and Canadian and US inflation numbers (21st and 21st respectively). January 31). ) and double job reports (on Friday).

In the meantime, if you need a mortgage by early May, skip the guesswork and secure a rate lock in for more than 120 days. There is still solid value in the uninsured three-year fixed note space, led by Pine and Radius Financial. True North Mortgage's leading short-term insurance specials are also worth checking out.

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  1. Bookmark this page to find the lowest national mortgage rates in Canada.

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  2. Homes in Toronto, Ontario.

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Don’t forget to check out local lenders too. They are often like local restaurants that serve better food than the big chains. In the area of ​​insured mortgages, for example, you can find more attractive three-year offers from Butler Mortgage (in Alberta and Ontario) and Vancity (in BC).

Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.

Mortgage interest rates

The interest rates shown below are updated at the end of each day and come from MortgageLogic.news' Canadian Mortgage Rate Survey. Postmedia and imagination. Online Inc., parent company of MortgageLogic.news, will be compensated by certain mortgage providers if you click on their links in the charts.

Click here to see the lowest nationwide mortgage rates in Canada today.

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