The Bank of Canada raised its key lending rate by 75 basis points this morning, bringing it to 3.25%. In its statement, the Bank said, “short-term inflation expectations remain high” and that inflation risks becoming “entrenched” the longer it remains elevated. As a...
By now, “trigger points” should be in the vocabulary of nearly every variable rate mortgage holder. There’s been a great deal of coverage lately about trigger points due to the rise in interest rates so far this year. Put simply, it’s the point where...
Many homeowners dread mortgage renewal time, especially when interest rates are rising as they are today.It means you’ll likely be resetting your mortgage at a higher rate, with higher monthly payments. But as always, you have options. Should you renew early to...
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...
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...
