Mortgage News
Mortgage rate hikes shouldn’t torpedo the housing market
Recent reports of rising mortgage rates have some analysts saying the Canadian housing market is beginning its decline, but many are refuting this prediction.
Published
Fixed mortgage rates have recently seen a slight increase, due to rising bond yields. This is showing signals that the North American economy is gaining momentum, and employment and income growth won't be far behind. This is just one of the reasons the slight recent uptick in mortgage rates shouldn't spell disaster for the Canadian housing market.
In this article from the Globe and Mail, we learn that a modest increase in mortgage rates can actually be good for the housing market, encouraging potential buyers to take advantage before a larger increase comes along.