Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest rates.
The Bank of Canada opted to leave interest rates unchanged today but maintained its hawkish bias, confirming it won't hesitate to hike rates further if inflation doesn't continue to trend downward.
Weaker-than-expected GDP data last week likely sealed the deal for a rate hold tomorrow by the Bank of Canada. But not all economists are convinced that this marks the end of the current rate-hike cycle.
Despite interest rates potentially being at or near a peak, borrowers aren't betting on rate cuts anytime soon.
Bond yields broke through a key resistance point this week, leading to a fresh round of fixed mortgage rate increases.
When it comes to understanding mortgage rates and their impact on monthly payments, many Canadian borrowers have room for improvement.
There's speculation that fixed mortgage rates, which have continued to trend higher over the past several weeks, are set to rise even further.
Canada’s economy has so far managed to avert recession and shrug off the fastest rate-tightening cycle in the nation’s history....
The Bank of Canada's Governing Council members opted for a 10th rate hike in July over concerns that waiting until September carried its own risks.
Bond yields are back on the rise this week, which observers say could keep upward pressure on fixed mortgage rates if the trend continues.
