As we know, the Bank of Canada raised the Prime Lending Rate yesterday by 0.25% in order to slow down a market that doesn't seem to want to quit. I hosted a Facebook Live last night to share my thoughts and ideas. Please feel free to watch it by clicking below.
If you wish to look at locking in your mortgage, you can reach out to your lender directly for a faster response, or, as always reach out to us.
The next announcement is September 6, 2023 and for goodness sake I hope this is the last of the rate hikes.
I will send out an email when the inflation numbers come in over the next two months. That will give us an idea of what will happen in September.
Reach out to our team if you have any questions or concerns regarding your mortgage.