Robert McLister: There’s no imminent widescale threat of fixed rates rebounding
Compared to last week, nationally-advertised default-insured fixed rates fell another one and five basis points for four- and five-year terms, respectively. The lowest insured variable rate went the wrong direction, however, up five basis points to 5.20 per cent.
In the uninsured market, the leaderboard was quiet as a church on Monday. Only the four-year fixed saw movement, down one basis point on the week.
As it stands, the gap between leading five-year fixed and variable offers is 106 to 126 basis points, depending on whether the mortgage is uninsured or insured. That gap is still too wide for most folks who prefer their rates to be like their relationships: stable and predictable.
The rates displayed below are updated by the end of each day and are sourced from the Canadian Mortgage Rate Survey produced by MortgageLogic.news. Postmedia and Imaginative. Online Inc., parent of MortgageLogic.news, are compensated by certain mortgage providers when you click on their links in the charts.