Fixed mortgage rates should tick higher next week–barring any economic surprises.
The jump in yields is, thanks to stronger-than-forecast U.S. employment data, a new June maturity as the 5-year benchmark, asset rotation into stocks, and the 20% increase in debt issuance announced in yesterday’s budget.
If you’re considering a fixed-mortgage rate hold, it may be wise to lock it in by Monday.
Sidebar: We have to wait another week for Canadian employment data. Usually it comes out the same day as U.S. data, but not this week.