The 5-year government bond rocketed to 2.71% today. Various lenders have already issued fresh new fixed rate increases. More may follow tomorrow if yields don’t retrace.
Two-year bond yields also broke to the upside. That may lead to upcoming rate increases on shorter-term mortgages, which have been insulated from rate hikes for several months.
If you’re shopping for a fixed mortgage, be safe and get your application in soon.
You guys see any deals out there? Best I see is HSBC at 3.85%
There are definitely some through the broker channel that are better. As always, of course, it depends on the client’s qualifications, rate hold, and desired features.
Hi Rob or others…
Where you say above get your “application” in soon.
What if I only have a rate capp at a certain institution but have not applied for a mortgage isn’t this ok???
I assume you have a 5-year fixed pre-approval?
If so, your rate should be secured during the lender’s specified rate hold period (subject to you qualifying).
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