7 and 10 year Mortgage Rate?

When we look to see/predict where the 5 year mortgage rates are heading, we use the 5 year Canada bond yield. One year ago the rate was 2.14% and in October of 2018 it rose to 2.45%. Today the yield is at 1.79%.

Looking out to the 10 year bond yield today we have 1.89% off a high of 2.57 back in October.

The 20 year bond yield today is 2.12% off a high of 2.61% back in October.

See a pattern here? The banks are the most risk adverse institutions in Canada so they wont take any risk offering a long term mortgage rate if they didn’t think the yield curve would be essentially flat for a long time to come.

We have a current rate special from one of our great lenders:

  • 5 yr High Ratio Fixed rate of 3.59%
  • 7 yr High Ratio Fixed rate of 3.64%
  • 10 yr High Ratio Fixed rate of 3.89% ( this is on par with some of our other lenders 5 yr Fixed rates)

At Lang Financial, we service customers across Canada. Primarily, we offer Financial Advice in Southern Manitoba and Northwestern Ontario areas.

I work with Castle Insurance Group Inc.