Fixed Mortgage Rates Continue to Increase
Yet again we are seeing bond yields increasing, this time more sharply. We are seeing lenders increasing their 5 year fixed mortgage rates since the last increase from around 3.19% to the 3.49% range.
In the chart below you can see a 6 month history of the bond yields in which fixed mortgage rates are directly related. Notice the run up since May.
If you are thinking of buying a home, refinancing, renewing or locking in a mortgage now is the time to talk to a mortgage broker you trust who can give you the objective advice you need!