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Fixed Mortgage Rates: Why They Move With Bond Yields

Canadian government bond certificate placed beside a mortgage contract folder and calculator on a desk, with a blurred financial chart in the background — symbolizing fixed mortgage rates linked to bond yields.

On October 1, 2025, Canada’s 5-year fixed mortgage rate averaged 4.68%, largely reflecting moves in Government of Canada bond yields. With the Bank of Canada’s recent rate cut and weaker economic data pulling yields lower, fixed mortgage pricing could ease further—but spreads and lender timing mean borrowers should watch closely as they plan renewals.

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