Canadian Fixed Mortgage Rates Rise

Major Canadian banks lifted select fixed mortgage rates, with several products ↑20 basis points and repricing centered on 3- and 5-yr terms.
Across Canada, many lenders also moved fixed rates ↑5 to ↑40 basis points across 1- to 5-yr terms, mostly ↑15 to ↑30.
A key funding benchmark, Canada’s 5-yr government bond yield, hit a new 52-wk high near 3.7% before easing slightly while staying elevated.
The yield climb was tied to a broader global bond selloff linked to energy inflation concerns, even after crude slipped below US$105.
Even after the pullback, the 5-yr yield stayed ↑23 basis points above its Sept. 8 close, keeping upward pressure on fixed mortgage pricing.