Tug Of War Between Immigration & Inflation Will Determine Interest Rates

The roller coaster ride that is now the Canadian 5 year bond jumped another 50 bps in just the last 2 weeks with bond yields above 3.6% for the first time since early November! Why does this matter? It’s the best indicator we have for what’s going to happen with fixed mortgage rates which had briefly come down to into the mid to high 4% range but now back into the mid 5% range and higher.This jump in the 5 year bond was kicked off by the January jobs report which added 10 times the expected a...