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.
