Aware of all the potential changes that are coming in the next few weeks and a strong realization of the material impact that they could have on the mortgage marketplace
Tagged: Mortgage Market
The Canadian residential mortgage market crossed the $1-trillion threshold for the first time this year as higher prices forced many to borrow heavily to finance their new homes and low interest rates encouraged many more to refinance.
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.