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A Sale Pending sign hangs in front of a property in San Francisco, Tuesday, April 18, 2023. On Thursday, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Jeff Chiu)Jeff Chiu/The Associated Press

Mortgage rates unchanged

It was a sleepy week for mortgage rates. The only changes among nationally advertised offers were a five basis point increase in the lowest variable and 10-year fixed rates. (One basis point is one-hundredth of a percentage point.)

How builder incentives can bite you come mortgage time

Canada’s bond market, which heavily influences fixed mortgage pricing, is now focused on the May 3 U.S. Federal Reserve rate announcement. If the Fed suggests that a slowing North American economy warrants a pause in hikes, yields could drop and take fixed rates down with them.

But with core inflation remaining so darned sticky, that is anything but guaranteed.

Rates are as of April 20, 2023 from providers that advertise rates online and lend in at least nine provinces. Insured rates apply to those buying with less than a 20 per cent down payment, or those switching a pre-existing insured mortgage to a new lender. Uninsured rates apply to refinances and purchases over $1-million and may include applicable lender rate premiums. For providers whose rates vary by province, their highest rate is shown.

Robert McLister is an interest rate analyst, mortgage strategist and editor of You can follow him on Twitter at @RobMcLister.

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