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Robert McLister: Mortgage lenders prep for volatility in the event of Trump-imposed tariffs
Published Jan 16, 2025 • 1 minute read
United States president-elect President Donald Trump’s expected tariff reveal next week could throw bond yields for a loop. Given that yields generally steer fixed mortgage rates, lenders are preparing for rate volatility.
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In the lead-up to that, mortgage rate changes have been a mixed bag. Among the most competitive lenders, here’s how the lowest nationally-advertised rates moved this week:
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- Three-year fixed (uninsured): -20 basis points
- Five-year fixed (uninsured): -10 basis points
- Three-year fixed (insured): -15 basis points
- Five-year fixed (insured): -5 basis points
Variable rates are getting markedly more popular. Yet, some banks are getting stingier with their variable-rate discounts. This has become a trend in recent weeks, so it’s something to keep in mind if you’re on the hunt for a mortgage and leaning toward a variable.
While we’re on the topic, lenders commonly guarantee their variable-rate discount from the prime rate. Just remember that you have to apply to receive the guarantee.
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.
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English (US)