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McLister believes that if all the Big Five banks raise their fixed mortgage rates, it will have an impact on the Toronto housing market, which has been in slump-mode for about a year now since the.
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· In the B.C. Real Estate Association’s latest Mortgage Rate Forecast, it forecasts the BoC will be forced to scale back its rate-hike plans, and will now take until 2020 to raise its overnight target rate from the current 1.75% to 2.50%.
Canadians may be anxious about mortgage interest rate hikes, but those applying for new fixed-rate mortgages are likely to have a breather for.