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Bond Yields Are Nearing 5%: What It Means for Your Mortgage and HELOC

  Published September 11, 2026 Something is happening in the bond market this week that matters more to your wallet than the daily swings in the TSX. The yield on the 10-year US Treasury note closed in on 5% on Friday — 4.95% , its highest level since 2023 and approaching territory not seen since 2007 — after climbing 18 basis points in a single week. Canadian bond yields have followed the same path: the 10-year Government of Canada bond hit its highest level in over two years earlier this month, and the 5-year bond — the one that actually sets your fixed mortgage rate — has drifted up to roughly 3.41%, about a quarter-point higher than it was a month ago. If you're renewing a mortgage, shopping for a HELOC, or just trying to figure out whether now is the moment to lock in, here's what's actually going on and what it means for your payments. Why bond yields, not the Bank of Canada, are driving fixed rates right now It's a common mix-up: people watch the Bank of Canada...
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Trudeau Faces Pressure to Expand $250 Rebate Beyond Working Canadians

 

Prime Minister Justin Trudeau remains firm on his plan to provide a $250 rebate to "hardworking Canadians," despite mounting pressure from opposition parties to extend the benefit to seniors and individuals unable to work. The rebate is part of a broader affordability package announced by the Liberals, which also includes a temporary cut to the federal sales tax on popular holiday items.

During a recent announcement on Prince Edward Island, Trudeau was questioned about the possibility of expanding the rebate to non-working seniors and people with disabilities. He reiterated that the measure is intended to support working Canadians who need extra assistance, while also mentioning that the government is exploring other ways to help those who do not qualify for the rebate.

The opposition, including the NDP and Bloc Québécois, has been vocal in their demands for a more inclusive approach. They argue that the rebate should also benefit seniors and people with disabilities, who are equally in need of financial support. However, Trudeau has not introduced legislation to enact the rebate, and it remains uncertain whether he will secure the necessary support from the opposition to pass it.

The GST holiday bill, which temporarily eliminates the federal sales tax on a range of items, passed in the House of Commons with the help of the NDP and is awaiting approval from the Senate. This measure is expected to provide some relief to Canadians during the holiday season, but the debate over the rebate's scope continues to be a contentious issue.

As the government navigates these challenges, Trudeau's stance on the rebate underscores his commitment to recognizing the efforts of working Canadians, while also highlighting the ongoing discussions about how best to support all citizens in need.

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