Canada’s biggest banks along with various lenders have raised their 5 year fixed rates. This includes TD, BMO, RBC, etc… this following the increase in bond yields over recent weeks.
Most of the big banks have raised their expectations on what the Bank of Canada’s overnight rate hikes will be by the end of this year. A possible 2.5% overnight rate (overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market.) The last time the overnight rate was close to that high was during the 2008 financial crisis.