I know I've discussed the relationship between the bond and mortgage market but a new forecast is making headlines. TD is stating that the higher yields won't last. This means rates may stay the same or even go down in the future. This is exactly the opposite of what has been reported and forecasted over the last few weeks. This also gives some hope and peace of mind for people thinking of buying in the near future or who have purchased a in a development that is completing at some point next year or the year after.
Bond yields determine fixed mortgage rates. When bond yields go up so do fixed mortgage rates. And visa vera.A normal rate hold is anywhere from 90 to 120 days.As always, if you have any questions at anytime please do not hesitate to call/email me.