Bond yields increased again yesterday so therefor the fixed mortgage rates on which they are based also increased. If you are putting down less then 20% your 5 year fixed AAA rate is now 3.84% which is up by .05 basis points since last week. However if you are putting down 20% or more your AAA rate is now at least 4.09%.

The prime rate on the other hand is still 2.70%, and most lenders are offering discounts of prime less .90% now where last week they were offering discounts of up to prime less 1.10. So if you have a variable rate or are pre approved on a variable rate take note that the bank of Canada meets next on April 13th to announce the next change to the over night lending rate which will then change the prime … Read more