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Writer's pictureTiff Iden

Every Canadian Home Buyer Needs To Hear This Update...

These days, industry professionals across the Canadian Real Estate & Mortgage Lending world now anxiously await every #BankofCanada Rate Announcement, as home owners have been feeling the pinch of incredible increases to their mortgage payments over the last year, and would-be buyers get continuously inched out of affordable opportunities to enter the market. These rate announcement updates typically dominate headlines and social media feeds, and leave many feeling worried and overwhelmed.


Interestingly enough, though, there is another major contributor when it comes to fluctuations in Canadian Mortgage Rates. And, although it arguably affects a far greater percentage of typical home owners & buyers that the BoC rate changes do, it doesn't get nearly the same coverage in the news.


Bond Yields

I'm talking about Canadian Bond Yields, my friends.


When's the last time you went searching to find out what they're doing? Don't feel badly if the answer is, "Never." Because I've found that most folks who don't work directly in the Real Estate industry, don't have any idea why this would matter when it comes to their mortgage & what they can qualify for on their home purchase.


This week, I hopped on the phone with Leslie Morris, an experienced Mortgage Agent with Dominion Lending Centres, and team lead for The Morris Team - a team of 24 other mortgage professionals here in #waterlooregion. I wanted to put some information out there that could highlight this good news for home owners & buyers that no one seems to be talking about, and how it could help save you money if your mortgage is renewing soon - or improve your pre-approval if you're currently home shopping. If you've got 8-9 minutes, tune in for some really great insights:



TL;DR

Rates for certain fixed-term mortgages in Canada have dropped as much as 20 basis points over the last week, and may very well continue to go down in the weeks to come. In this video, Leslie explains the correlation between Bond Yields and Fixed Term Mortgage rates, and also outlines how you can ensure you're taking advantage of decreasing rates if you're coming up for renewal, or shopping for a home - even if you've already purchased a home that hasn't closed yet!

🏡 👉 Ready to get started on your own home search?

Let's grab a coffee & discuss your next steps in your home buying journey! Book Now


You can also follow Leslie's team of Mortgage Professionals, The Morris Team, for more helpful information, tips & updates here: 📸 Instagram @dominionlending.morristeam ⏰ TikTok @dlcmorristeam

Weigh In: Did you know how Canadian Bond Yields affect our Fixed Term Mortgage Rates?

  • 0%Yes, I DID know this!

  • 0%Nope - I'm glad you shared this information!


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