It looks like the fixed mortgage rates are on the way back down again. The CDN dollar has dropped slightly and so have the bonds. We are seeing a decrease to below 4% again for 5 year fixed. This is the second time in 6 months we have seen fixed rate increase from 3.8% to 4.4% and back down.
3 year rates are down to 3.25%.
It seems the economy is holding steady and the strength, or weakness, of the US dollar is controlling our fixed rates by affecting the bond rates.
The Bank of Canada is still holding steady until next summer. No new news from them.