Why do U.S. moves matter for Canadian mortgage rates today?

Canadian fixed rates track Government of Canada bond yields, but U.S. rate momentum can influence global funding costs and risk spreads. When U.S. benchmarks ease and the Treasury yield spread narrows, Canadian lenders often gain room to trim discounts, first through promos or rate holds, then through broader posted rate changes.

What is the 30-year refinance rate telling us right now?

A 30-year refinance rate near 6.49% suggests easing funding pressure and better liquidity. If the move holds alongside tighter spreads, lenders can pass on savings. It does not guarantee quick cuts, but it improves the odds of small, steady reductions that help renewals and selective refinances in coming weeks.

How does the Freddie Mac mortgage rate relate to Canada?

The Freddie Mac mortgage rate at 6.11% signals U.S. pricing trends and investor appetite for mortgage-backed securities. While Canada uses different funding channels, improvements in U.S. benchmarks often coincide with lower global yields. That can translate into slightly better Canadian fixed offers as lenders reprice with Government of Canada bond moves.

What exactly is the Treasury yield spread and why is it key?

The Treasury yield spread is the extra interest investors demand over government bonds to hold mortgages. When it narrows, lenders’ costs fall relative to benchmarks, improving pass-through to consumers. A tighter spread paired with stable or lower government yields supports lower mortgage rates today and more consistent lender discounts.

Global Market Insights

Mortgage Rates Today, February 09: 30-Year Refi Slips to 6.49%

ByDanny Kontos February 10, 2026February 10, 2026

Mortgage rates today are edging lower. As of February 09, the 30-year refinance rate averaged 6.49% by Feb 7, while the Freddie Mac mortgage rate for a 30-year fixed was 6.11% on Feb 5. With the Fed on hold and the mortgage–Treasury yield spread narrowing, funding costs are easing. For Canadians, softer U.S. benchmarks often precede changes in fixed offers tied to Government of Canada bond yields. We explain what this drift means for payments, approvals, and timing decisions this week.