Climbing mortgage rates take a pause — for now

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeReal EstateMortgagesMortgage RatesClimbing mortgage rates take a pause — for nowRobert McLister: Rate markets are stuck in the same waiting room they've been in for monthsA house for sale in Toronto. Photo by Laura Proctor/Bloomberg filesMortgage rates caught a breather this week. Whether it lasts is another story.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAfter hitting a 28-month high last week, Canada’s five-year bond yield, which closely correlates with fixed rates, fell about 13 basis points.Don’t uncork anything yet. Of all the changes to leading rates in the last seven days, only one was a cut: the one-year fixed for default-insured borrowers, which slipped five basis points to 4.44 per cent. Every other move was up.This advertisement has not loaded yet, but your article continues below.Brokers and lenders I talk to say roughly half of Canadians are still choosing to float. Much of that comes down to price, with variable rates now 90 to 110 basis points cheaper than fixed.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againMeanwhile, rate markets are stuck in the same waiting room they’ve been in for months, hoping Iran cracks and comes to the negotiating table — in good faith, that is.The difference today is that Iran is running out of time, with severe sanctions and the U.S. oil blockade crushing their economy to a point that may spark mass revolt.But until the rogue nation and its proxies stop menacing oil suppliers, mortgage rates could keep climbing. The energy inflation they’re causing is slowly seeping into the cost of other goods and services. It shows up in surging producer prices, small-business pricing intentions and broader inflation pressures, as measured by Statistics Canada’s breadth data.But oil doesn’t get all the blame. Resilient growth, AI-driven corporate borrowing, deficit spending, trade wars and the end of the global savings glut are also driving inflation and rates higher.Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.For the best national insured and uninsured mortgage rates, updated daily, please visit our mortgage rate page here.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.