Mortgage rates shake off turkey coma, start moving up and down
Robert McLister: Default-insured and uninsured rates are moving in opposite directions

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Mortgage rates are waking up from their holiday slumber and finally starting to move. Depending on whether you need a default-insured or uninsured mortgage, those moves are going in opposite directions.
Among the most aggressive national lenders, these were the terms that shifted over the last week:
- Three-year fixed (uninsured): +15 basis points
- Five-year fixed (uninsured): +10 basis points
- One-year fixed (insured): -30 basis points
- Two-year fixed (insured): -10 basis points
- Three-year fixed (insured): +10 basis points
- Five-year fixed (insured): -5 basis points
Bond yields, which typically drive fixed mortgage rates, have been zig-zagging for months. Perhaps the imminent economic action will spark a new trend. We have a parade of vital events ahead, including dual central bank rate announcements (both on Jan. 29), new trade policies from Trump (post-Jan. 20 inauguration), Canadian and U.S. inflation numbers (Jan. 21 and 31, respectively) and dual jobs reports (on Friday).
In the meantime, if you need a mortgage through early May, skip the guessing games and lock down a rate hold for 120-plus days. There’s still solid value in the uninsured three-year fixed space, led by Pine and Radius Financial. And True North Mortgage’s leading short-term insured specials are also worth a look.
Don’t forget to check out regional lenders too. They’re often like local restaurants serving better food than the big chains. In the insured mortgage realm, for example, you’ll find tastier three-year offers from Butler Mortgage (in Alberta and Ontario) and Vancity (in B.C.).
Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.
Mortgage rates
The rates displayed below are updated by the end of each day and are sourced from the Canadian Mortgage Rate Survey produced by MortgageLogic.news. Postmedia and Imaginative. Online Inc., parent of MortgageLogic.news, are compensated by certain mortgage providers when you click on their links in the charts.
To view the lowest national mortgage rates in Canada right now, click here.

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