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Despite a drop in bond yields, major Canadian banks, including CIBC, Royal Bank, and TD, have raised fixed mortgage rates by 15-35 basis points. Experts suggest this counterintuitive move reflects lenders' responses to previous yield increases and a shift in borrower preferences towards variable rates, potentially leading to future rate wars if bond yields stabilize. Seasonal trends also play a role, as banks typically increase rates in December after ending marketing campaigns.
Ron Butler
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Big Banks Raise Fixed Mortgage Rates Despite Declining Bond Yields
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