CMT Team·General·July 22, 2007Could $100 Oil Spike Mortgage Rates? Inflation is at a 2.5% pace, a 4-year high. Stats Can says mortgage costs are the main culprit. Now the Bank of Canada may have another inflation worry: oil. CIBC World Markets predicts oil will hit $100 a barrel by 2009. It may sound alarmist but, if CIBC is right, it could take more than one or two more rate hikes to control inflation. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.