BoC Hike "Likely and Warranted" — The Latest from RateLand
The Latest from RateLand was published today due to the holiday.
The pace of fixed rate increases has slowed these past seven days, but the damage has been done. Canada's #4-year swap# rate—a leading fixed rate indicator—is up 100 basis points in just two months.
Whether you're a mortgage shopper, realtor or mortgage seller, these are un-fun times. In just five weeks, the lowest nationally-available uninsured 2-year fixed rate is up 80 bps. The lowest 5-year fixed is 70 bps higher.
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