Bond Yields Approaching 1-year Highs

Government bond yields have rebounded sharply since their November plunge. Discounted fixed mortgage rates should climb this week as a result.  A few lenders have already raised rates in the last few business days.

The 5-year yield, which helps determine 5-year mortgage rates, is just 8 basis points below its 14 month closing high.

5-year_Bond_Yields

The 1-year yield has bounced in a similar fashion.

Stronger than expected economic news and ascending U.S. bond yields are driving Canada’s market.

No additional significant economic data is scheduled for release this week.

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