Fixed mortgage rates are rising. Here’s what Canadian borrowers should know

News Snapshot:

Mortgage shoppers who haven’t already locked in could be regretting it as fresh tariff confusion pushes bond yields and fixed mortgage rates higher. While no one will emerge a winner from this convoluted trade war – not investors and certainly not the global economic status quo – the benefit to roiling markets was the downward effect it had on bond yields, which lenders use to determine fixed-rate borrowing costs. In fact, mortgage shoppers enjoyed some of the lowest five-year fixed-rate options since 2022 – in the 3.7-per-cent range – during the early weeks of April, as investors piled into bonds...