As oil prices flirt with US$100 a barrel, inflation concerns are putting upward pressure on bond yields—and by extension, your mortgage options. While some smaller lenders have already begun nudging fixed rates higher, the Big Six banks remain in a ‘wait and see’ holding pattern. According to mortgage strategist Robert McLister, these major institutions are notoriously slow to adjust, often requiring proof that a yield trend has real staying power before committing to price hikes. However, with the five-year yield hovering just 18 basis points shy of a multi-year high, the window for current rates may be narrowing. For those entering the competitive GTA market, remember that any rate starting with a three is historically fair, sitting well below the 3.70% ten-year average. Don’t let the fear of ‘high’ rates paralyze your plans; locking in now could be a strategic move. Read the full analysis at Financial Post.
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