mortgage rate hikes Archives - Mortgage Rates & Mortgage Broker News in Canada

Why three big banks raised fixed mortgage rates despite falling bond yields

December 2, 2024 2 Comments

Despite low bond yields, banks and other lenders are continuing to raise rates. We talked to several rate experts to understand why.

Fixed mortgage rates expected to surge as bond yields reach 15-year high

September 22, 2023 2 Comments

Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high.

Bond yields are back on the rise. Will fixed mortgage rates follow?

July 25, 2023 No Comments

Bond yields are back on the rise this week, which observers say could keep upward pressure on fixed mortgage rates if the trend continues.

“Extremely resilient” variable-rate borrowers face latest test as prime rate rises to 7.20%

July 17, 2023 No Comments

Variable-rate mortgage borrowers, who have already seen their interest costs rise by more than 70% over the past year, were hit with yet another hike last week as prime rate reached a 22-year high of 7.20%.

Bank of Canada delivers 10th rate hike, markets not convinced this will be the last

July 12, 2023 No Comments

As was widely expected, the Bank of Canada today delivered another quarter-point rate hike today, bringing its benchmark rate to a 22-year high of 5%.

Fixed mortgage rates continue to rise in 2023

Fixed mortgage rates surge again, pushing rates under 5% to the brink

June 15, 2023 No Comments

Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.

Variable-rate borrowers brace for higher mortgage payments as prime rate reaches 22-year high

June 9, 2023 No Comments

Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year high of 6.95%.

“More pain” for variable-rate mortgage holders as the BoC hikes rates

June 7, 2023 No Comments

Variable-rate mortgage holders are in for “more pain” following the Bank of Canada’s half-expected decision to hike interest rates again.

Bank of Canada rate decision January 2023

Bank of Canada expected to “nudge” rates another 25 bps higher

January 23, 2023 No Comments

The Bank of Canada will deliver its first rate announcement of the year this week, where markets and economists overwhelmingly expect a 25-bps rate hike.

Fixed mortgage rates expected to rise this week

October 21, 2022 No Comments

Fixed mortgage rates are expected to take another step up next week, pushing some 5-year fixed mortgages into 6% territory.

mortgage rate hikes