Apparently, nothing major happened in the financial markets today. And that’s a good thing.
The S&P 500 was up 0.3% and Toronto was down 0.4%.
The 5 year government of Canada bond yield is at 2.8%. Down substantially from 3.6 to 3.7% in early March.
Mortgage rates have come down to some extent. If you are looking at locking in a mortgage in the next week or so shop around really hard because many mortgage providers have not yet reflected the lower 5 year Canada yield.
You can apparently still get up to 4.7% on 1 year GIC and over 4% on a five year. Those rates may not last long if the five year Canada stays below 3%. Again, it’s pretty sweet that a retail investor gets a higher 5 year interest rate than an institutional investor. (Institutions are too big for GICs or they value they ability to sell the government bond early if needed.)