From one of our lenders:
Canadian 5 yr bond yields +14bps to 2.71- Four weeks ago it was 2.07. The spread, based on new 5 yr rate of 4.09%, is down drastically to 1.39%. With spreads this low again another interest rate jump is coming. An increase by as much as 25bps could be expected.
If you’re thinking about getting a mortgage or a pre-approval, get your mortgage applications in soon!