The week’s best fixed and variable mortgage rates
Mortgage rates are experiencing upward pressure due to rising inflation and bond yields. Inflation in Canada reached 2.8% in April, driven primarily by increasing gas prices linked to geopolitical tensions. Economists warn that if the situation persists, it could lead to widespread inflation and potential rate hikes by the Bank of Canada.
- ▪Inflation in Canada rose to 2.8% in April, up from 2.4% in March.
- ▪The increase in inflation is largely attributed to surging gas prices due to oil export constraints from the Middle East.
- ▪The Canada five-year bond rate reached its highest level in 22 months at 3.39% before settling at 3.2%.
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Open this photo in gallery:A home for sale in Toronto in December, 2021. Inflation reached 2.8 per cent in April, an increase from 2.4 per cent in March, according to Statistics Canada.Carlos Osorio/ReutersShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountMortgage rates are facing more upward pressure as inflation continues to rise and bond yields spike. Statistics Canada reported this week that inflation reached 2.8 per cent in April, an increase from 2.4 per cent in March and the highest annual inflation rate since May, 2024.The increase was largely driven by gas prices, which are surging as a result of constricted oil exports from the Middle East as a result of the war in Iran.Energy costs haven’t spilled over into other sectors yet – grocery inflation…
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