Government of Canada bond yields

The 5-year Government of Canada benchmark bond yielded 3.62% on October 1, 2026, and the 10-year 3.94%. A year earlier the 5-year was at 2.73% and the 10-year at 3.19%.

5-year Government of Canada yield

3.62%

As of October 1, 2026

10-year Government of Canada yield

3.94%

As of October 1, 2026

2-year Government of Canada yield

3.27%

As of October 1, 2026

Long-term Government of Canada yield

4.28%

As of October 1, 2026

Source: Bank of Canada.

Non-residential mortgage spread over the 5-year yield: Sphera Credit calculation from two Bank of Canada series: cre-mortgage-rate-new (Valet series V122667820) and goc-5y (Valet series BD.CDN.5YR.DQ.YLD).

Maintained by Sphera Credit

The yield curve, now and a year earlier

  • 2-year Government of Canada yield: 3.27% on October 1, 2026.
  • 3-year Government of Canada yield: 3.37% on October 1, 2026.
  • 5-year Government of Canada yield: 3.62% on October 1, 2026.
  • 7-year Government of Canada yield: 3.70% on October 1, 2026.
  • 10-year Government of Canada yield: 3.94% on October 1, 2026.
  • Long-term Government of Canada yield: 4.28% on October 1, 2026.

Source: Bank of Canada.

5-year and 10-year yields over time

  • 5-year Government of Canada yield: 3.62% on October 1, 2026.
  • 10-year Government of Canada yield: 3.94% on October 1, 2026.
  • 5-year Government of Canada yield: history since January 2, 2001.

Source: Bank of Canada.

Benchmark yields by term

Benchmark yields by term
TermDateLatestA year earlierChange
2-yearOct 1, 20263.27%2.46%+81 basis points
3-yearOct 1, 20263.37%2.47%+90 basis points
5-yearOct 1, 20263.62%2.73%+89 basis points
7-yearOct 1, 20263.70%2.88%+82 basis points
10-yearOct 1, 20263.94%3.19%+75 basis points
Long-termOct 1, 20264.28%3.67%+61 basis points

Calculated by Sphera Credit from Bank of Canada data.

Source: Bank of Canada.

Use this data

Use with your AI assistant

Connect Sphera Credit Data to your assistant once. It can then chart and analyze these series, and every value it quotes carries its source and date. The catalogue is open. Pulling a history asks you to sign in with your work email, and access is free.

Copy the prompt below and paste it into your AI assistant. The assistant adds the Sphera Credit Data connector for you, or walks you through the steps when it cannot.

Prompt for your AI assistant

Add the Sphera Credit Data MCP server to this assistant, so you can answer my questions with Canadian rate data from the Bank of Canada.

Server name: Sphera Credit Data
Server URL: https://data.spheracredit.com/mcp
Type: remote MCP server over HTTP with OAuth sign-in. It needs no API key.

More information about the tools, the data series and Sphera Credit is on this page:
https://www.spheracredit.com/en/resources/data/mcp
Browse it first, so you understand what Sphera Credit is and how this server helps me. If you cannot browse the web, continue without it.

I came from the page "Government of Canada bond yields" (series ids: goc-2y, goc-3y, goc-5y, goc-7y, goc-10y, goc-long, cre-mortgage-rate-new, cre-mortgage-spread-5y). Once you are connected, start with these series.

Then follow these steps:
1. If you can add MCP servers yourself, add this one now. Tell me what you change.
   - Claude Code: claude mcp add --transport http sphera-data https://data.spheracredit.com/mcp
   - Codex: codex mcp add sphera-data --url https://data.spheracredit.com/mcp
   - Any other tool: use your own way to add a remote HTTP MCP server with the URL above.
2. If you cannot add it yourself, tell me how to add it in this app, one numbered step at a time, with the exact URL above. If you are not sure of the steps for this app, use the steps on the page above. Do not guess a different URL.
3. The first time you pull a rate history, a sign-in page opens. I sign in myself on that page. Do not enter my details or the emailed code for me.
4. When it is connected, call list_series to check that it works. Then tell me in two or three sentences what you can now do for me. Always give the source and the date of each value you quote.

Then ask: “Chart the 5-year and 10-year Government of Canada yields since 2019 and the spread between them.”

MCP server documentation

Download or connect in Excel

Each series is a CSV file with a date column and a value column. In Excel, choose Data, then From Web, and paste the link. Refresh updates it to the latest values.

Other series on this page

What these yields are

Government of Canada benchmark bond yields show what the federal government pays to borrow at each term, as traded on the bond market. The Bank of Canada publishes them every business day for the 2, 3, 5, 7 and 10-year terms and for a long-term bond. Each one is the mid-market closing yield of a selected Government of Canada bond that matures at about that term. The Bank changes the bond behind each term from time to time, typically after the last auction of a new benchmark bond, and a yield can jump on the day it does even when market rates did not move.

Reading the yield curve

The curve chart plots each term's yield on the latest date next to the same terms a year earlier. When longer terms yield more than shorter ones the curve slopes upward, and when shorter terms yield more it is inverted. The table gives the change at each term in basis points, where one basis point is 0.01 percentage point.

Commercial mortgage rates and the 5-year yield

Chartered banks charged 4.93% on the non-residential mortgage funds they advanced to businesses in July 2026 (dated July 1, 2026). Sphera Credit calculated that this rate was 1.77 percentage points above the month's average 5-year Government of Canada yield. Both series come from the Bank of Canada. The rate covers new loans, renewals and refinancing across all terms, as one volume-weighted rate for the month, so any single loan can price above or below it.

Frequently asked questions

It was 3.62% on October 1, 2026, from the Bank of Canada's benchmark bond yields. A year earlier it was 2.73%.

Sources

  1. Selected bond yields, Bank of Canada (checked 2026-09-29)
  2. Bank of Canada Valet API, Bank of Canada (checked 2026-09-29)
  3. Interest rates charged for new and existing lending by chartered banks, Bank of Canada (checked 2026-10-02)

For information only. These are market reference rates. Each lender sets its own loan rates.