#CanadianMortgageRates #CanadaMortgageRates #CanadaBondYields Canada’s mortgage rates shot upward on Tuesday, with a crisis in the United Kingdom spreading to the markets in the United States and Canada.
As yields surged in the UK, investors in the U.S. and Canada demanded higher yields as well, with Canadian mortgage rates following soon thereafter.
The Bank of England has since intervened in the market, restarting another round of what is essentially quantitative easing - buying up an unlimited number of gilts (or UK Bonds) in order to keep prices low. Canadian bond yields have since retreated, though mortgage rates have not followed suit.
Links:Bond yields rise as 10-year U.S. yield hits 4%:
