Homes in Toronto, Ont. Photo by James MacDonald/Bloomberg files

If declining mortgage rates get your blood pumping, then dust off the dancing shoes. This party might soon be getting started.

Government bond yields are diving, which is usually a precursor to fixed-rate drops. So far, the cuts have been slow, but there’s likely more to come.

Here’s a sample of what changed among this week’s lowest advertised default insured rates:

Five-year fixed (national): down five basis points to 3.89 per cent at Citadel Mortgages

Five-year fixed (national): down four basis points to 4.65 per cent at Innovation Credit Union

Five-year fixed (AB, BC, ON): down five basis points to 3.79 per cent at Butler Mortgage

Uninsured rates are dropping too, but so far it’s mostly discretionary rates, whic

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