The U.S. bond market is facing some head winds and this could have serious impact on our side of the border.
Because U.S. and Canadian five-year yields have had a 0.93 correlation over the last thirty years, when the U.S. yields jump, Canadian yields (including those that drive fixed mortgage rates) tend to follow suit.
So, does all of this bond and yield and 3-year vs 5-year rate talk have your head spinning?
The Broker Effect
According to CMHC, one in four consumers felt uncertain about their mortgage process, so rather than join the 42% of mortgage consumers that expressed regrets about their mortgage, call on an expert broker to help you understand not only your rate but the other factors that can have a long-term effect on your cash flow: amortization, terms, amounts etc.
The #1 thing I would recommend to anyone looking to buy a home or get a mortgage renewal would be to use an expert. Here are the top 4 things an experienced mortgage broker can help with:
Mortgage brokers can help you understand:
- Interest rate fluctuations
- Payment affordability
- Mortgage terms & conditions
- Mortgage timing & amortization
Get in touch for expert mortgage advice that you can trust >