On April 8, stock market anxiety hit an extreme that's seldom been equalled.

Wall Street's VIX (a.k.a. "fear index") spiked above 52, the highest on record apart from the #GFC# (2008-09) and pandemic (2020).

Yet here we are, a mere 12 weeks later, watching the S&P 500 smash record highs. It's like nothing happened. But, in fact, it's one of the fastest recoveries from a 20% drop in S&P 500 history.

Ok, but what does this have to do with mortgages?

Glad you asked.

What happened this spring is a textbook example of how qualified, savvy, well-prepared investors use credit to manufacture wealth.

Credit is liquidity, and liquidity is power. Pre-arranged financing (e.g., a HELOC) gives Canadians the option to leverage a dead asset, home equity, to boost net worth the instant that opportunity strikes.

Now, what you're about to read is not a playbook for the masses (check the disclaimer), but for a rare breed with a long time horizon, strong financials and market conviction, it deserves serious thought.

Well, that didn't take long. Turns out the quickest route to a Canadian policy reversal is a Trump tweet and a whiff of recession.

After Trump threatened new tariffs over Canada’s digital services tax (DST), Carney pulled the plug faster than a fire marshal at a pyro expo.

Canada’s bond market yawned at the drama, with yields unchanged until a midday dip in Treasury yields pulled them lower.

Here's more on what steered our 5-year yield Monday, and in which direction...

GDP dips, inflation expectations drop, Trump threatens Canada again...

What more could low-rate lovers ask for on a summer Friday?

The Federal Reserve’s go-to inflation tracker—core PCE—topped estimates by one tick as U.S. price increases accelerated.

Spending and income both underwhelmed, hinting that the average American wallet is starting to feel like it’s on a student budget.

All in all, today's BEA report served up a platter of economic confusion and stagflation-esque vibes, giving rays of hope to both hawks and doves.

Here's a full breakdown and what it spells for Canadian mortgage rates...

Economic storm clouds gathered over North America on Thursday, and yet, our 5-year GoC yield slipped just two ticks. Here were the forces steering it.

Despite a modest dip in U.S. yields, Canada's climbed like they had premonitions of fiscal irresponsibility. And they weren't wrong.

Here's a rapid-fire look at what moved Canada's 5-year on Wednesday, and in which direction...

Why would Canada's largest mortgage originator, which has access to almost every lender in the land, decide to bankroll a brand new alternative lender?

That's what we asked DLC Group after it took a 40% stake in the upstart Heartwood Financial Group (HFG). The business strategy behind it then became quickly apparent.

Yields had a mini bout of bipolar disorder on Tuesday. First, they shot up after the above-target core inflation print. Then, they pulled a complete reversal and tailed American yields lower.

Here's a closer look at what swayed Canada's 5-year yield, and in which direction: