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I hope you enjoyed a relaxing Labour Day weekend.
This week’s post will be brief because this past weekend had me focused on enjoying the last days of summer and getting the kids ready for the new school year.
I’ll be paying close attention when the Bank of Canada (BoC) meets this Wednesday and will share my thoughts on their accompanying statement next Monday.
Five-year Government of Canada bond yields rose by one basis point last week, closing at 0.75% on Friday. Five-year fixed-rate mortgages are still offered in the 2.49% to 2.59% range and five-year fixed-rate pre-approvals are available at rates as low as 2.64%.
Five-year variable-rate mortgages are available in the prime minus 0.65% to prime minus 0.75% range, depending on the size of your mortgage and the terms and conditions that are important to you.