Jeff van de Bennet's blog
The big news in the mortgage world these days has been the steady increase in fixed mortgage rates.
Since the start of the year, fixed rates have risen approximately one percentage point, or 100 basis points.
As a general guide, for every 0.25% increase in mortgage rates, your monthly payment will increase $12-$13 per $100,000 of debt.
The Bank of Canada has just raised its key lending rate by 25 basis points, citing…
This marks the first change to the Bank’s overnight target rate in two years and the first rate hike since October 2018.
In its statement accompanying the decision, the Bank said: “As the economy continues to expand and inflation pressures remain elevated, the Governing Council expects interest rates will need to rise further.”