Fixed Interest Rate
Definition
An interest rate that stays the same for an agreed period, making interest charges more predictable during that time.
Canada
Why can fixed mortgage rates move during a Bank of Canada rate hold?
Lenders consider funding costs and competition when setting fixed mortgage rates. A five-year government bond yield can rise as markets revise their expectations for future rates, putting upward pressure on new five-year fixed offers even when the policy rate holds.
Bank of Canada bond yields