Using the Holidays and a slight uptick in Bond Yields as an excuse, the Big Banks gave Canadians a presnt by raising the fixed rates a further .25%, with the new 5 year fixed rate around the 3.99 - 4.04% range.  Prime remains the same at 3.00%.


This is standard practice by the Banks to scare people into locking in their variable rate mortgages, and maximize Bank profits.  If you have your strategy worked out to float, this shouldn't be a big event, as we do expect to see them slide back down again in the new year.