Mortgage Rates Canada - November 2021 Update - Bank of Canada Walks Back Interest Rate Prediction

#CanadaMortgageRates #CanadianMortgageRates #InterestRates

Mortgage Rates in Canada are up all across the board, as mortgage lenders are taking their cues from the Bank of Canada and the skyrocketing inflation. With rates up as much as .5 percent in some cases, many rushing into the real estate market early, as borrowing costs are increasing substantially.

The Bank of Canada’s messaging on the pace of interest rate hikes has been murky, at best, as the bank tried to assure Canadians that interest rates might not rise in the second quarter.

However, as inflation runs hotter and hotter, the Bank of Canada could have its hand forced as it tries to avoid hyperinflation.

Best Mortgage Rates

Best Insured Rate, No Frills Was 1.83, NOW is 2.33

Best Insured Rate, Fully Featured, Was 2.09, now its 2.49 5 Year Fixed

Best Insurable Rate (20 percent down, no insurance, 25 years), Was 2.19 Percent, Now is 2.64.

Best Uninsurable Rate (30 years or taking money out) Was 2.24 Percent, Now is 2.64

Links:

Bank of Canada 'getting closer' to raising interest rates, says Governor Tiff Macklem:
https://financialpost.com/news/econom...

Bank of Canada sees labour-market uncertainty clouding rate path:

https://www.bnnbloomberg.ca/bank-of-c...

UPDATE 2-Bank of Canada deputy says rate hike may not come as soon as expected:

https://www.reuters.com/article/canad...

'No question' homebuyers racing to beat rate hikes: CIBC's Tal:

https://www.bnnbloomberg.ca/no-questi...

Mortgage Rundown: Why variable rates won’t wait for the Bank of Canada to start increasing:

https://www.theglobeandmail.com/inves...

U.S. inflation is coming for Thanksgiving dinner:

https://www.theglobeandmail.com/world...

Bank of Canada governor says inflation 'transitory but not short-lived':

https://www.ctvnews.ca/politics/bank-...

Mark Mitchell – Mortgage Broker London Ontario
Phone: (519)860-2102 (Call or Text)
[email protected]
Brokerage Lic: 10464
Broker Lic: M16001479
https://www.LondonOntarioMortgages.ca – Apply Online!!
Youtube Channel:    / markmitchellmortgagebrokerlondonontario  

Subscribe NOW for more Mortgage/Financial News/Videos.
Follow me on Social Media:
Instagram -   / mortgagebrokerlondonontario  
Facebook -   / londonontariomortgages  
Twitter -   / londonmortgage1  
LinkedIn -   / mark-mitchell-london-s-mortgage-broker-197...  
TikTok - https://www.tiktok.com/@mortgagebroke...