It seems that the Canadian bond market has a spring in its step these days.
After hitting a low around 3.26% in January, the Government of Canada 5-year bond yield—which typically leads fixed mortgage rates—finished Tuesday’s session at 3.63% after reaching an intraday high of around 3.66%.
Contrary to what some pundits are telling you, I don’t think the sky is falling. But it may also be a good time to get your pre-approvals in, get your rates locked in, and maybe reach out to any variable-rate clients to see if they want to convert to a fixed rate now.
Monday and Tuesday were the two worst days we’ve seen in equity markets in quite some time. The Dow Jones, the S&P 500, and the tech-heavy NASDAQ all took it on the chin. Now, of course, perspective matters, and those indexes are coming off their best first-quarter returns in about six…
