Benchmark Qualifying Rate
4.79% Prime Rate
2.45% 5-year Canada Bond Yield
0.43% Overnight Target Rate 0.25%30-day Bankers' Acceptances 2.25%
COMMON BROKER RATES
5-year Fixed Mortgage 1.64% Variable Mortgage 1.65% 
MARKET SPREADS
5-year Fixed – Bond Yield 1.21% Variable – BA -0.60% Fixed-Variable Mortgage -0.01%
BANK OF CANADA
Next BoC Meeting 20 Jan, 2021 % Chance Hike Next Meeting -21%% Chance Hike in 9 months -31%
ECONOMIST FORECASTS
Prime Rate (Year-end 2021) 3.95% Prime Rate (Year-end 2022) 2.45% 5-year Yield (Year-end 2021) 2.45% 5-year Yield (Year-end 2022) 0.60% 5-year Fixed (Year-end 2021) 3.95% 5-year Fixed (Year-end 2022) 2.40%
REAL ESTATE MARKET
Average Home Price (CREA)$607,280Average Price Gain (y/y) +17.10% Home Sales Growth (y/y) +47.20% Months of Inventory 2.1 Inventory Growth (y/y) -50.72%
KEY ECONOMIC INDICATORS
Full-time Job Gains (Last mo.) 36,500Full-time Job Gains (6-mo. avg) 211,467 Core CPI Canada (Last mo.) 1.70% Core CPI U.S. (Last mo.) 1.62% Canada GDP (Latest qtr.) 40.50% 
5-YEAR BOND YIELD
That Was Painless
Ever since the infamous 2013 Taper Tantrum, we've been hearing about impending Fed rate hikes and all of their implicati...
More on Benchmark Changes
Our recent story on changeovers in the benchmark 5-year bond sparked some good questions about how and when the ben...
Changes in the Benchmark Bond
As most readers here know, fixed mortgage rates follow bond yields over time. That's why, with the 5-year fixed being Ca...
