Tagged: Fixed Rate Mortgages

Why rising interest rates haven’t flattened the housing market

Why rising interest rates haven’t flattened the housing market

So much for the housing market being crushed by rising interest rates.

The Bank of Canada cranked up its trendsetting overnight rate for the third time in four months on Wednesday and the impact will be felt by a wide range of borrowers. But home buyers? Not so much.

BMO

BMO cuts mortgage rate to spur home buying

The Bank of Montreal cut its special five-year fixed rate mortgage by 20 basis points Wednesday, bringing it down to 3.59% from 3.79%.

BMO said in a statement that the move was an effort to provide potential home buyers an incentive as the fall season rolls around.