Interest Rates

What Impact Will Increased Interest Rates Have on the Hamilton-Burlington Detached Housing Market?

On Wednesday March 9th the Bank of Canada announced that it was raising its key overnight lending rate by a quarter of a percentage to 0.5%, as it attempts to fight inflation caused by the COVID-19 pandemic. Homeowners with a variable rate mortgage will immediately feel the effects of the higher rates on their monthly payments, but what does this means for the current detached real estate...

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