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.
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Last modified: April 28, 2014
You guys see any deals out there? Best I see is HSBC at 3.85%
Hi Tyler,
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.
Cheers,
-rob
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???
Hi TT,
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).
Cheers,
-rob