Menu Prime: 3.20%

Mortgage Rates On The Rise

We are seeing mortgage rates begin to rise as many Lenders are raising their rates both conventionally and High Ratio.

After holding interest rates at record low levels for the past two years, the Bank of Canada (BoC) has dropped a number of hints over the past months that it is ready to finally start increasing rates.

The Bank of Canada (BoC) recent increase for the Fed’s  overnight rate in Sept was the second increase in the past two months with another  expected increase in October.

Our recommendation is to contact us so we can review your mortgage, look at options and see if it is a fit to secure a long term rate.