Fixed Mortgage Rates Continue to Increase

2022-03-29 | 12:35:13

The fixed mortgage rates continue to increase. The Big 6 Banks have increased their rates in the past week with an average increase of 20-30 basis points. The Bank of Canada 5-year bond yield , has closed at an 11 year high of 2.49%, which leads the 5 year fixed rate.

In the next few weeks we may start to see 5-year fixed rate hit 4%. 

Variable rates are expected to increase on April 13,2022 with the central bank's next rate decision. There is a chance that the rate will increase 25 bps or even 50 bps.

There are risks with variable and fixed-rate mortgages. Contact me to discuss both options.

#mortgages #fixedratemortgage #variableratemortgage #purchase #refinance #mortgagerenewal

https://www.canadianmortgagetrends.com/2022/03/fixed-mortgage-rates-rise-again-closing-in-on-4/