Mortgage Rates Lower Amid Shutdown

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Canada bond yield

Global News

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Business

Business & Economics

Fixed mortgage rates see some easing amid Trump tariff threats. Here’s why - National | Globalnews.ca

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69% Informative

Five-year Government of Canada bond yield saw a sharp decline on Monday in the wake of Trump ’s weekend announcement that blanket tariffs would hit the Canadian economy on Tuesday .

That metric — a key input for popular five-year , fixed-rate mortgages in Canada — fell roughly 20 basis points when markets opened to as low as 2.58 per cent, a low not seen since April 2022 .

Bank of Canada last week dropped its benchmark interest rate by a quarter of a percentage point to 3.0 per cent .

Trump ’s tariff threats are also looming large over the traditionally busy spring housing market.

“A lot of people are scared to make the biggest purchase of their lives,” Tran says.

Rock-bottom interest rates will do little to support demand’ in the event of a sharp downturn in the economy and widespread job losses, Graham says.

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informal

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English

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