Mortgage Rates Are Poised To Rise – A Bit

Mortgage Rates Poised to Move UpMortgage rates could be drifting up again soon, even if the Bank of Canada is standing pat for now, experts say.

Already over the last few months, variable-rate mortgages have started to climb, erasing much of the advantage they had over traditional fixed-rate mortgages, says Kerri-Lynn McAllister, community manager at RateHub.ca. McAllister says we can expect more of the same. Click here to view the full article.

 

Even though the Bank of Canada will likely keep the bank rate where it is through most or all of next year, both variable and fixed rates could creep up by .25% or so during 2012. While this won’t have a huge effect on the real estate market, it’s one more factor that will likely cause the market to slow down and balance out somewhat next year. Look for prices to continue to rise in 2012, but at a much slower pace than we’ve seen over the past couple of years.

 

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    Well, they would fluctuate a bit, but they will just go on increasing in the future.