Fixed mortgage rates continue to climb as borrowers weigh the variable discount - CMT News - Canadian Mortgage Trends

Fixed mortgage rates are climbing again after another jump in Canada’s 5-year government bond yield, extending an upward trend that began around the outbreak of the war in Iran in late February.

The yield has risen from roughly 2.6% before the war to above 3.6%, topping 3.7% on Monday. CIBC and TD raised select 3- and 5-year fixed mortgage rates on Tuesday, joining other major banks and lenders that have increased rates in recent weeks.