Video: Why Are Mortgage Rates Rising, and What Do I Do?

Date
17.07.2013
Video: Why Are Mortgage Rates Rising, and What Do I Do? hero image
Why are fixed mortgage rates suddenly going up, and what should you do about it if you're looking for a mortgage or holding a variable mortgage? Video interview with Rob McLister of Canadian Mortgage Trends.

Is this the beginning of the end of bargain-basement mortgages?

Fixed mortgage rates have bumped up recently. It started with no prompting from the Bank of Canada, which continues to hold the prime interest rate steady at 3 per cent and the overnight rate at 1 per cent.

Rob McLister, mortgage broker and editor of Canadian Mortgage Trends, has some insights... and some advice about what you should do if you're shopping for a mortgage or holding a variable mortgage.

We talked to him at his Horseshoe Bay office.



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