Interest rates appear to be rising a little bit. In my last post I expected the Bank of Canada’s status quo rate announcement to be neutral, it has actually sppoked the bond market a bit. There is no further expectation of lower rates for the forseable future and so slightly higher rates is the current outlook.
Mortgage providers are informing me of their new higher rate schedules. If you are shopping for a home during the next few months, getting pre-approved for financing will help you lock in today’s lower rates.
Contact me for a referral to a great mortgage broker.