Mortgage rates’ dream ride ‘almost over’
Filed Under Main Content · Tagged: Beginning Of The End, Canadians, Dollar Question, Fixed Rate, Harsh Reality, Housing Market, Longest Time, Mortgage Broker, Mortgage Rates, Paula Roberts, Quot, Rock Bottom, Upswing, Variable Rate Mortgages
Financial Post- For Canadians now accustomed to rock-bottom mortgage rates, a harsh reality looms.
Rates are officially on the upswing, an indication that the country’s housing market is finally poised to cool off and the beginning of the end to historically low rates.
It’s a move being closely monitored by those with variable-rate mortgages trying to cling to minimal monthly payments for as long as possible.
Is now the time to lock in to a fixed rate?
"That’s the million-dollar question," mortgage broker Paula Roberts said Monday. "We’ve had a great ride for the longest time. And we know the ride’s almost over…"
