Both sellers and buyers alike are keenly interested in knowing what impact rising mortgage rates will have on the market.
TD bank has put together a great primer answering the most common questions to the mortgage rate hikes:
- How much have rates increased?
- What has fuelled the rate increases?
- Should I go variable or fixed?
- How much will the recent rate increase weigh on housing activity?
- What are the impacts on affordability of taking out or refinancing a mortgage?
There are too many highlights and interesting statistical tidbits to quote, so I recommend just reading through the 4 page report: