Fixed rates are moving in one direction — and it doesn’t favour borrowers

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 EstateMortgage RatesFixed rates are moving in one direction — and it doesn't favour borrowersRobert McLister: If you’re planning to lock in a mortgage, today is better than tomorrowApart from some hyper-competitive credit unions, if you can score a fixed-rate near 4.49 per cent, plus or minus 10 basis points, you’re doing well for yourself. Photo by Peter J. Thompson/PostmediaThe borrowing cost gods have spoken — and decided we can afford more.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 AccountFor most terms this week, the lowest fixed mortgage rates climbed yet another five to 10 basis points.That follows a similar upward move in Canada’s trendsetting five-year government bond yield.Deals in the three most popular terms break down like this:Three-year fixedInsured: You’ll find 4.14 to 4.19 per cent at online discounters like Ratebuzz (Ont. only) and Butler Mortgage (Alta., B.C., Ont.)This advertisement has not loaded yet, but your article continues below.Uninsured: You’ll find 4.19 to 4.34 per cent at credit unions and discountersSUBSCRIBER 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 againFive-year fixedInsured: Affinity Credit Union in Manitoba is the last lender in the country under four per cent on a fixed term, given its 3.99 per cent offer. In other provinces, expect to pay at least 15 basis points more.Uninsured: Apart from those hyper-competitive Manitoba credit unions, if you can score a rate near 4.49 per cent, plus or minus 10 basis points, you’re doing well for yourself.Five-year variableInsured: Butler Mortgage (Alta., B.C, Ont.) leads all comers at 3.25 per cent, with national providers five to 15 basis points higher.Uninsured: Ratebuzz (Ont.) is at 3.45 per cent with other regional providers 10 to 15 basis points higher, and major banks at 3.55 per cent, give or take.For now, fixed rates are moving in one direction, and it’s the one borrowers dislike. So if you’re planning to lock in, today is better than tomorrow.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.We apologize, but this video has failed to load.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.