Helio · MarketsLive · Bank of Canada Valet · as of Aug 24, 2026
The cost of capital for Halifax development.
The rates that price a development — the policy rate, the Government of Canada yield curve, the mortgage-over-government spread — read against the Halifax pipeline. Six years of Bank of Canada history, not a broker quote. We track the benchmarks the capital stack is actually built on.
As of Aug 24, 2026 · rates: Bank of Canada Valet API · 38 series
Development pencils today. The window is open.
build spread · Δ +3 bp WoW · as of Aug 24, 2026 · yield-on-cost − indicative MLI take-out
Government of Canada yield curve
Halifax development
| Benchmark | Latest | Δ1d | 1mo | 1yr | 52-wk |
|---|---|---|---|---|---|
| Money & policy | |||||
| Overnight policy rate | 2.25% | • 0 | • 0 | ▼ 50 | |
| Prime rate | 4.45% | • 0 | • 0 | ▼ 50 | |
| CORRA | 2.25% | • 0 | ▼ 3 | ▼ 52 | |
| Government of Canada yield curve | |||||
| GoC 2-year | 2.96% | ▼ 7 | ▲ 6 | ▲ 27 | |
| GoC 3-year | 3.05% | ▼ 8 | ▲ 3 | ▲ 36 | |
| GoC 5-year | 3.28% | ▼ 8 | ▲ 6 | ▲ 34 | |
| GoC 7-year | 3.42% | ▼ 8 | ▲ 6 | ▲ 27 | |
| GoC 10-year | 3.68% | ▼ 8 | ▲ 8 | ▲ 25 | |
| GoC long (30-year) | 4.11% | ▼ 6 | ▲ 13 | ▲ 27 | |
| GoC real return (long) | 1.98% | ▼ 7 | ▲ 11 | ▲ 16 | |
| Financing benchmarksposted · BoC · not a quote | |||||
| Conventional mortgage 1-yr | 5.49% | • 0 | • 0 | ▼ 60 | |
| Conventional mortgage 3-yr | 6.05% | • 0 | • 0 | • 0 | |
| Conventional mortgage 5-yr | 6.09% | • 0 | • 0 | • 0 | |
| Spreads & signalscomputed by Helio | |||||
| Mortgage 5yr − GoC 5yr spreadmtg_5y − goc_5y | 2.81% | ▲ 8 | ▼ 6 | ▼ 34 | |
| Curve slope (10yr − 2yr)goc_10y − goc_2y | 0.72% | ▼ 1 | ▲ 2 | ▼ 2 | |
| FX | |||||
| USD / CAD | 1.3839 | • 0 | ▼ 3 | • 0 | |
Rate history & spreads
Interactive history chart — enable JavaScript. The current values and changes are in the board above.
Rate shock on the Halifax pipeline
illustrative · the moat— / yr
A +100 bp move in the cost of capital adds that much in annual interest across Halifax's —-unit pipeline. No one else can compute this — it needs both the rate feed and the parcel feed.
Illustrative: tracked pipeline units × a $300K/door cost assumption × ~70% leverage, at the live insured rate — not project-level underwriting. We do it parcel by parcel →
The 5-year Government of Canada yield (3.28%) is the spine of construction take-out financing; mortgage funding sits 2.81 points above it. With the policy rate at 2.25% and the curve upward-sloping, this is the cost-of-capital backdrop every Halifax pro-forma — across — units now under construction — is solved against.
Run these rates through the calculators → — the deal-impact engine, DSCR sizing, CMHC MLI Select & more, all fed by today's rate.
These are the benchmarks. We compute what they mean for a specific parcel.
Work with us →Helio Urban Development is a computation-driven real estate development company in Halifax that reads these benchmarks against its own development pipeline.
SOURCES · Rates, yields, spreads & FX: Bank of Canada Valet API (policy, prime, CORRA, the GoC benchmark curve, conventional-mortgage benchmark, USD/CAD), six years of daily history, latest Aug 24, 2026. Spreads & the curve slope are computed by Helio from those series. Halifax pipeline: the Helio Developments Map. Starts, vacancy & rent: CMHC + Statistics Canada (2026-06-23). Benchmark and policy rates only — not personalized or brokered rate quotes. Updated automatically each business day.