The Bank of Canada, as predicted announced that they are going to raise interest rates from .5% to .75%. This is the first time in seven years that rates have been raised and it is happening in an effort to fight inflation. What does this mean to homeowners and potential buyers in the Markham real ... » Learn More about What Will Rising Mortgage Rates Mean to You?
interest rates
Will the Higher Mortgage Interest Rates Affect You?
Two major banks in Canada have raised their mortgage rates and other lenders are expected to follow suit. While the rate jumps weren’t huge, Canadians could be in for more increases over the next few years, getting mortgage interest rates up to a more “normal” rate. Currently, even with the ... » Learn More about Will the Higher Mortgage Interest Rates Affect You?