Bank of Canada, bonds, lender and mortgage-rule news.
Statistics Canada's New Housing Price Index for the total of house and land came in at 120.4 for August, down from 120.5 in July and 120.6 in June. It's a slow bleed rather than a drop, but it's now three straight months in the wrong direction for builders pricing new construction.
The Government of Canada ten-year benchmark bond yield rose to 3.99%, up from 3.96% the day before. Fixed mortgage pricing tracks this number closely, so the next renewal quote an agent's client gets is likely to be a touch worse than the last one.
Rising bond yields are pushing fixed mortgage rates higher, and lenders are repricing again. Mortgage professionals are split on whether the gap still favours variable, which is the conversation worth having with any client about to lock in.
TD is preparing a fresh share buyback as its capital position keeps growing. It's a signal of a lender flush with cash even as mortgage books shrink elsewhere, and it's worth watching for how that capital gets deployed into lending appetite.
The 10-year Government of Canada benchmark yield rose to 3.96%, up from 3.94% a few days earlier. Fixed mortgage pricing tracks this number more closely than the overnight rate, so a client comparing quotes this week may already see it reflected.
Private mortgage lenders are warning that fees and auto-renewal clauses can do more damage to a borrower's total cost than the headline rate suggests. They're also flagging that longer qualifying timelines with traditional lenders make exit planning something to discuss up front, not after the fact.
Statistics Canada's shelter index rose to 190.9 in August, up from 190.3 in July and 190.2 in June. The steady increase keeps pressure on the Bank of Canada's inflation read and gives renters little relief heading into fall.
Canadian Mortgage Professional reports lenders are seeing borrowers hold steady with five-year terms as rate uncertainty lingers. Agents fielding financing questions should expect that caution to persist rather than a rush toward variable products.
Canadian Bankers Association data shows the share of mortgages behind on payments has reached its highest point in over a decade, even as the big banks' overall loan portfolios contract. Fewer mortgages outstanding but more of them in trouble points to stress concentrated among borrowers who took out oversized loans during the low-rate years. Agents working with sellers under financial pressure should expect more price-motivated listings ahead.
Canadians' outlook on the economy showed little improvement through late September, with worries over oil prices and a less certain interest rate path keeping households cautious. That mood matters for agents fielding buyers who are pre-approved but still hesitating, since confidence, not qualification, is often what's holding them back.
The Bank of Canada's posted conventional five-year rate hasn't budged since last week. For agents fielding the inevitable client question about whether to wait, there's no new argument for either side this week.
Yields on America's longest-dated bonds climbed to levels not seen in more than twenty years, driven by inflation worries and concern over government debt. It's a reminder that Canadian fixed rates don't move in isolation: when US long bonds sell off, our five-year pricing tends to follow within days.
Canadian Mortgage Professional argues that with a wave of mortgage renewals approaching, brokers who reach out ahead of a client's notice date have a real edge over those who wait for the phone to ring. Rates have shifted enough since these mortgages were signed that a delayed conversation can cost a client real money. Agents should flag renewal dates for their broker referrals early, not after the letter arrives.
Equifax has overhauled the credit report brokers pull on borrowers, adding new fraud, income and insolvency indicators and moving to a soft inquiry that doesn't dent a client's score. The bureau says assessing borrower risk now looks nothing like it did a few years ago. Agents working with self-employed or newcomer buyers should expect more upfront questions from brokers as a result.
The five-year Government of Canada benchmark bond yield slipped to 3.57% from 3.59% the week before. It's the second straight weekly dip, and it's the number lenders watch most closely when setting fixed mortgage pricing.
Canadian Mortgage Professional reports that the Bank of Canada governor's latest comments have brokers reconsidering whether the next move is a cut at all. If a hike does move back onto the table, it upends the assumption clients have been working from all year, and agents should expect more buyers to ask about locking in sooner rather than later.
Bank of Canada Governor Tiff Macklem told an audience that policymakers don't want to be late raising rates if inflation pressure proves stubborn. That's a notable shift from a bank that spent most of the year signalling patience, and it argues against betting on near-term relief for variable-rate holders.
The five-year Government of Canada bond yield dropped to 3.54% on September 17, down from 3.64% the day before. Lenders price fixed mortgages off this yield, so a sustained move lower is the number to watch before quoting a client a rate.
The five-year Government of Canada benchmark bond yield slipped to 3.64%, down from 3.65% the day before, according to Bank of Canada data. It's a small move, but every basis point matters to lenders setting fixed-rate specials this month.
The Bank of Canada's governing council signalled it may need to raise its policy rate if elevated gasoline prices keep bleeding into the price of other goods and services. That reopens the door to more increases just as the market was hoping the hiking cycle had run its course.
Canadian Mortgage Professional looks at whether the U.S. Federal Reserve's latest rate decision will ripple into Canadian mortgage pricing. Lenders here watch the Fed closely for bond market direction, and agents fielding client questions about where fixed rates go next should expect this to come up.
The Bank of Canada's benchmark 10-year yield eased to 3.94% from 3.95%. A move that small won't shift lenders' posted rates, so it's more relevant to buyers timing a rate lock than to anyone expecting a repriced pre-approval.
Statistics Canada pushed back a key inflation release after unusually heavy traffic broke its website, the second such outage in a month. Agents fielding affordability questions should expect the numbers to land later this week rather than on schedule.
The five-year benchmark bond yield rose to 3.65% on September 11, from 3.63% the day before. It's the rate that anchors most fixed mortgage pricing, so a few days grinding in one direction is worth flagging before a client locks.
Major lenders have raised fixed mortgage rates in response to the bond yield surge, and some borrowers are facing steeper increases than the posted rate suggests because discretionary discounts are disappearing. Agents fielding pre-approval questions should flag that the rate a client saw last month may no longer be on offer.
The Bank of Canada's conventional five-year mortgage rate sat at 6.09% on September 9, unchanged from the same reading on September 2. Anyone doing pre-approval math this week isn't getting help from financing costs, even with yields on the move.
GIC rates climbed across the board following the Bank of Canada's hold and a firmer stretch in longer bond yields, the Globe and Mail reports. Savings account rates stayed put, widening the gap between locking money in and leaving it liquid.
Canada's banking regulator has pledged to keep a key capital requirement for the country's largest banks stable well into the future, according to Canadian Mortgage Trends. That stability matters for agents indirectly: it's one input lenders use when deciding how much mortgage capacity they're willing to extend in a given quarter.
A look at current mortgage term choices finds many borrowers picking shorter terms without fully weighing what happens at renewal if rates haven't moved in their favour by then. Worth raising directly with clients heading into a pre-approval: the cheapest term today isn't always the safest bet in a few years.
Statistics Canada's rented accommodation index came in at 166.4 in July, down from 167.1 in June but still above May's 166.6. The wobble doesn't change the bigger picture for tenants deciding whether renewing or buying makes more sense this fall.
A Toronto condo buyer who runs her own business had to restructure her finances and build a bigger cushion to satisfy lenders wary of self-employed income. It's a reminder for agents working with entrepreneurial clients: get an accountant into the pre-approval conversation early, not after an offer is written.
The five-year benchmark yield eased to 3.41% from 3.42%, a marginal move that still feeds into how lenders price fixed mortgages. Nothing here signals a change in direction, just a market waiting on the next data point.
Shelter costs in the CPI basket rose again, to 190.3 from 190.2 in June and 190.1 in May. It's a slow climb rather than a jump, but it keeps overall inflation stickier than the Bank of Canada would like.
The Bank of Canada left its policy rate unchanged, pointing to an escalating trade dispute with the U.S. that clouds the growth picture and raises the odds of fresh inflation pressure. For agents, the practical read is unchanged: no relief on financing costs from Ottawa, and no clear signal on when that changes.
Fixed mortgage rates are climbing as bond yields push higher, even with the Bank of Canada on hold. The gap between fixed and variable pricing is widening, which gives agents one more reason to walk hesitant buyers through both options before they lock anything in.
With the policy rate steady for now, economists surveyed are shifting their view of where the Bank of Canada goes from here, rather than assuming the current setting holds indefinitely. Worth flagging to clients who are timing a purchase around where financing costs land next year, not where they sit today.
Economists expect the Bank of Canada to leave its policy rate unchanged as trade tensions with the US and stubborn inflation pull policy in opposite directions. Don't expect a cut to loosen affordability before the fall listing season gets going.
Most new CMHC-insured mortgage volume now stretches beyond the standard amortization window, according to Canadian Mortgage Trends. The share eased slightly from the prior quarter but remains well above where it sat a year ago, a sign buyers are still leaning on longer terms to close the affordability gap.
The Bank of Canada's overnight rate held at 2.25% heading into this week's announcement. That's a fixed reference point for variable-rate conversations until Wednesday changes it.
EQB says stronger loan applications and tighter broker relationships are winning it more uninsured mortgage business, even as impaired loans keep climbing. Enforcement on troubled files is also taking longer to resolve than it used to, which matters for any broker managing a client through distress.
Delinquencies remain low across the country, but borrowers in Canada's priciest markets are showing more strain as origination growth slows. Agents working in the GTA and Lower Mainland should expect more price-sensitive, stretched buyers at the table.
CIBC beat estimates on capital markets and retail banking strength, extending a run of solid results across Canada's large lenders. A healthy bank sector usually means steady mortgage lending capacity heading into the fall market.
The conventional five-year mortgage rate stayed at 6.09% for a second straight week, unmoved by the softer bond market. Buyers qualifying today should plan around this rate, not a cut that hasn't shown up yet.
Economists building a case for the Bank of Canada to raise rates say the escalating tariff fight has weakened that argument, since a trade shock tends to slow growth rather than stoke inflation. That leaves more room for the central bank to hold, or even ease, at its next meeting.
Scotiabank now expects Canadian growth to slow further as the trade dispute with Washington drags on, according to the bank's latest outlook. For agents, a weaker growth path feeds directly into rate expectations: it's more ammunition for a Bank of Canada that leans toward holding steady or cutting rather than raising. Buyers weighing whether to wait it out should hear that context, not just the mortgage rate on offer.
Canadian Mortgage Professional reports that public support for Prime Minister Carney's handling of the trade standoff with the U.S. remains solid, even as broader economic anxiety keeps climbing. That gap between political patience and economic worry is exactly the environment lenders and the Bank of Canada are reading as they plan their next moves. Agents should expect client hesitation to track the anxiety more than the politics.
Canada's headline inflation rate rose to the top of the Bank of Canada's control range in July, driven largely by a sharp jump in gasoline prices. Inflation excluding gas has held roughly steady for months, a split that keeps the case for a near-term rate cut murky.
Renewed friction between Ottawa and Washington is complicating forecasts for the Bank of Canada's next move, mortgage industry analysts say. With trade talks stalled, opinion is split on whether the central bank leans toward holding or cutting further to cushion the economy. If a client asks where rates go next, the honest answer this week is nobody quite knows.
Statistics Canada's New Housing Price Index fell to 120.5, down from 120.6 the month before and 120.7 the month before that. New-construction pricing keeps easing, which is useful ammunition when a buyer asks whether waiting a few more months makes sense.
The homeowners' replacement cost component of CPI rose to 201.6 from 201.5 the prior month, but remains under the 202.1 recorded two months earlier. It's a quiet number, but it feeds insurance and appraisal conversations agents have with owners of older housing stock.
Bank of Canada research found that rate cuts push home sales up almost immediately, while new construction only catches up after a delay. That gap leaves upward pressure on prices, especially when the job market stays tight, a pattern agents in supply-starved cities have already lived through this cycle.
A new Royal LePage survey finds most homeowners renewing their mortgages this year are managing the higher payments, even while describing real financial strain. Renters, notably, expect an even bigger jump when their own turn comes. Worth raising with clients who assume renewing is the safe option.
Canadian Mortgage Professional connects this month's inflation reading with a rebound in home sales, arguing the two aren't unrelated for borrowers weighing a purchase. The takeaway for agents: rate-cut expectations may need to be revised down if inflation keeps firming alongside demand.
The five-year Government of Canada bond yield slipped to 3.29% on Tuesday, down from 3.31% the day before. Fixed mortgage pricing tracks this yield closely, so lenders have a little more room to trim rates this week.
Statistics Canada's shelter component of CPI rose to 190.3 in July from 190.2 in June and 190.1 in May. The climb is slow, but it keeps shelter inflation running ahead of the broader basket.
A deepening global bond selloff pushed the U.S. ten-year yield to its highest level since early last year, Canadian Mortgage Trends reports. Thin August trading and worries over inflation and a wave of new corporate debt are driving the move, and Canadian borrowing costs tend to feel the ripple.
Statistics Canada's mortgage interest cost index rose to 182.1 in July, up from 181.7 in June and 181.6 in May. The pace is slow, but the direction hasn't turned for existing homeowners yet.
Global bond markets are bracing for pressure that has little to do with the U.S. Federal Reserve, as rates climb worldwide on renewed inflation concern. But for Canadian borrowers, that global drag matters more than domestic policy moves when it comes to setting fixed mortgage pricing.
Canada's chief trade negotiator told a government advisory group there's still significant work to do before next week's tariff deadline. Agents with clients tied to construction materials or cross-border supply chains should expect continued uncertainty on input costs.
The five-year Government of Canada bond yield, the benchmark lenders lean on to price fixed mortgages, eased to 3.3% from 3.32% the day before. It's a small move, but a softer yield gives lenders a bit of room to trim fixed-rate offers this week if it holds.
Desjardins's residential mortgage portfolio kept expanding through the second quarter, with improved margins and lower credit-loss provisions lifting earnings. It's a sign lenders still have appetite for mortgage growth even with rates where they are.
Statistics Canada's shelter index came in at 190.2 in June, essentially unchanged from 190.1 in May and 190.2 in April. Shelter costs aren't accelerating, which takes some pressure off the broader inflation picture the Bank of Canada watches closely.
Reverse mortgages are getting a second look from homeowners who plan to sell eventually but aren't ready to move now. Tapping equity in place can ease monthly pressure and let a seller wait for better timing instead of listing under duress.
The five-year Government of Canada benchmark yield closed at 3.32%, down from 3.34% the day before. It's the rate lenders watch most closely when setting fixed mortgage pricing, so even a small daily move matters for anyone locking in this week.
A broker quoted in Canadian Mortgage Professional argues the purchase market isn't where the volume is right now, and that refinances and upcoming renewals deserve the bulk of attention. For agents leaning on lender referral relationships, it's a hint about where those partners' energy is going this fall.
The target for the overnight rate sat at 2.25% on 7 August. The five-year Government of Canada benchmark yield finished at 3.26%, up from 3.22% a day earlier, and the ten-year reached 3.64% from 3.61%. Short money is steady. The part of the curve that prices a five-year fixed is not.
The Bank's series for the conventional five-year mortgage read 6.09% on 5 August, the same as it read on 29 July, while the bond that funds it moved up. Posted rates lag and they are not what anyone actually pays. Find out which number a client is quoting before you answer it.
Chexy's new rewards programme pays one Aeroplan point per dollar of mortgage paid, against a 1.75% fee. A point has to be worth more than 1.75 cents before the client is ahead, and most redemptions are not. Expect to be asked about it, because the pitch is very good and the maths is not.