| Term | Bank Rate | Our Rate |
| 1 Year | 5.84 % | 4.69 % |
| 2 Year | 5.14 % | 4.54 % |
| 3 Year | 6.05 % | 4.29 % |
| 4 Year | 5.99 % | 4.29 % |
| 5 Year | 6.09 % | 4.44 % |
| 7 Year | 6.40 % | 5.34 % |
| 10 Year | 6.80 % | 5.44 % |
This past week provided a dramatic shift in the outlook for future mortgage rates. For the past few months things were very “boring” as rates remained stable and economic data showed miniscule bits of positive news. However, during the last few days we saw Australia raise their key lending rate by 0.25%, Canada’s latest employment
Why did rates change? A brief explanation on why mortgage rates change despite the Bank of Canada not making any changes. This originally aired on the weekly telecast of Radio Real Estate Show on Talk AM1410 in Vancouver.
