The average new mortgage being taken out by today's borrowers surged to $360,000 as of the third quarter, Equifax reports.
Fixed mortgage rates have been climbing steadily since September. But by how much at what cost for new homebuyers?
As expected, some major mortgage lenders have started a fresh round of rate hikes following this week's run-up in bond yields.
Canada’s mortgage market grew by its fastest pace in over 10 years in the first half of 2021, according to new data released by the Canada Mortgage and Housing Corporation
Expectations for the first interest rate hike have moved up to as early as April as inflation concerns grow and supply disruptions persist.
TD Bank and CIBC were the first of the Big 6 banks to reverse their recent mortgage rate cuts last week.
Some of Canada's Big 6 banks made headlines last week by lowering fixed mortgage rates, but might they soon have to pull a U-turn?
CIBC became the second Big 6 bank to cut its 5-year fixed mortgage rate today.