“With Ontario mortgage rates falling ever since the COVID-19 pandemic hit in March, many people are wondering why. The main reasons for mortgage rates falling across the board are:
1. The Bank of Canada cutting its overnight interest rate,
2. Record low bond yields on Canadian Government bonds, and
3. Added competition among mortgage lenders for business
This trend of low mortgage rates has not only played out in Ontario, with the rest of Canada also seeing record low mortgage rates. This article will explain all three of these reasons in depth, and will give you a better understanding of why mortgage rates are so low.”
https://www.vaughantoday.ca/why-ontario-mortgage-rates-have-become-very-low/