TD becomes first major bank to hike fixed five-year mortgage rates amid surge in bond yields
[Globe and Mail - February 26, 2021] Bay Street expected higher interest rates – but not this high, this fast. And we’re now starting to see the impact on those shopping for mortgages. Canada’s five-year government bond yield, which leads fixed mortgage rates, surged past 1 per cent on Friday morning, its highest since before the Bank of Canada cut rates last March. That’s a 50-basis-point move in nine trading days, the likes of which we haven’t seen since 2010. (There [...]