In just 19 days we've seen Canada's 5-year yield ramp-up 67 bps. Despite that, there are still dozens of lenders with fixed rates under 5%. Mind you, they're mostly 5-year fixed insured/insurable rates—plus a few fleeting 3- and 4-year products.

Those buckling under the pressure of high interest rates got a breath of fresh air on inflation today. January headline CPI dropped to 5.9% year-over-year, 20 bps below expectations. That was partly a function of monetary policy working its magic and partly due to the favourable 2022 January comparable

"Many of the credit scores shared with consumers today in Canada are not the scores being used to make lending decisions," says credit analytics firm, FICO. As a result, mortgage applicants who are declined because of a low score are often perplexed when their free score is higher.

It seems that rising rates may coincide with higher market share for mortgage brokers. New BoC staff research finds that "an increase in the bond rate represents an increase in the cost of funding, and this is correlated with an increase in broker-use." But this report, released last