03/30/2020
I get this asked daily. Commentary from Dominion Lending’s chief economist explains in detail.
Why Are Mortgage Rates Rising? Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the s...