Optimism Returns to the Markets. Could Fixed Rates Start to Rise?
Bond yields in both Canada and the U.S. jumped on news that Pfizer’s COVID-19 vaccine has proven more than 90% effective in its trials.
Following the announcement on Monday, the all-important 5-year bond yield is now hovering around 0.50% for the first time since early June. Since bond yields lead fixed mortgage rates, that’s caused some observers to suggest mortgage rates could potentially be finding a bottom and may only head higher from here.
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: November 11, 2020