Folks could be another small fixed rate jump on horizon.  See below.  Strange days indeed. 

Inflation #s for March were lower than Feb. ( which many say were skewed by Olympics ) which may give Bank of Canada and Mark Carney opportunity to not raise prime rate until July as forecasted instead of bumping up a month early which was expected based on last week’s buzz.   Meanwhile, TD & RBC have raised their fixed rates another .15% to 4.85% range.  Few other lenders followed suit today.  Not all though.  So in broker channel specials as low as 4.39% for a 5 year fixed rate 30 day rate hold to 4.50% for 120 day rate hold. 

Recent rule changes by government mandating that anyone wishing a variable rate mortgage or fixed term less than 5 year must now qualify at 5 year posted rate ( currently 6.1% !!! )  have some suggesting that recent fixed rate jumps is means for lenders to gouge homebuyers since many cannot qualify at this much higher rate.   Sort of forcing them into the five year fixed term and little choice.

Rate analyser for one of Trust companies says five term should only be around 4.30%.   That being said some major lenders such as ING have not raised their fixed rates to equal RBC and TD.  And BMO special on front page of business page yesterday was stating 4.20% with some strings attached. 

Will keep you up to date.  Variables below prime as low as 1.75% are still looking attractive but need to brace yourself for jumps on horizon.