For GTA homebuyers and those looking to renew their mortgages, the window for sub-four-per-cent fixed rates has officially closed. Mortgage strategist Robert McLister reports that as bond yields continue their upward climb, nationally advertised five-year fixed rates have moved past the four per cent threshold. While a few regional providers still hold onto high-three-per-cent offerings, these are rapidly disappearing from the market.
Currently, variable-rate mortgages remain a popular alternative, largely sitting below four per cent. However, uncertainty looms regarding how long this will last. With the Bank of Canada monitoring stubborn inflation and medium-term expectations jumping to 3.40 per cent—well above the target—market volatility remains a primary concern. Whether you are navigating a purchase in the competitive Toronto market or planning a renewal, the shifting rate environment underscores the importance of strategic planning. For a deeper dive into these trends, visit the original article at the Financial Post.
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