Borrowers’ confidence in variable/adjustable-rate mortgages will be a conversation they’ll likely have with their broker, as the Bank of Canada’s overnight target rate begins its climb upwards, maybe as early as this week.
Category: Mortgage Rates
As of December, The Canadian Real Estate Association’s House Price Index was up 26% year-over-year, setting a new record.
Home prices in Canada increased past 25% in November compared to November 2020. The record year-over-year high results from low supply and continuing low-interest rates.
Today the Bank of Canada held its last scheduled announcement of the year, suggesting no changes to its forecast that its policy rate will increase in the middle of 2022.
While markets are expecting the first Bank of Canada rate increase in early 2022, some financial experts think the unpredictability of the brand-new Omicron Covid-19 variant might delay early hikes.
Today, the company’s head charged with managing Canada’s federally controlled lending institutions stated that the threat to mortgage credit has increased “just decently.”
Financial markets look at pricing in the first rate increase coming March. However, they may be off on the timing.
As 2021 rumbles to a close and mortgage professionals start to look ahead to the next calendar year, one of the big questions ahead will be whether variable-rate …
Expectations for the first interest rate hike have moved up to as early as April as inflation concerns grow and supply disruptions persist.
Nearly half of C…
A growing number of lenders have been raising interest rates over the past week in response to rising bond yields, including RBC, BMO and National Bank of Ca…