"...The typical mortgage rate is closely tied to the yield on five-year government bonds, as most home loans carry a five-year duration. Yields on a Canadian government five-year bond have more than doubled over the course of the last month, rising to 0.83 per cent in a surge that has not been seen since 2010.
That upward rate momentum has prompted a pair of Canadian lenders - TD Canada Trust and Bank of Nova Scotia - to hike their five-year fixed rates, according to mortgage-tracker RateSpy.com. The posted five-year fixed rates at the Big Six Canadian lenders range between 4.59 and 4.79 per cent, with TD advertising the lowest lending rate of the group...."
http://www.bnnbloomberg.ca/mortgage-market-not-ready-for-swift-100-bp-increase-cibc-s-tal-1.1570570
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