Canadians are faced with yet another mortgage rate hike. RBC, Royal Bank of Canada, announced it would increase interest rates on Tuesday with its four, five, seven and ten year fixed rates to 3.39%, 3.69%, 3.99% and 4.29% respectively.
So what does this mean for the wholesale mortgage market?
We have seen rates rise three times in as many weeks; however, the wholesale mortgage rates remain low, historically speaking. Expect the five and ten year fixed rates, to only mention a few, to settle around 3.49% and 3.99% respectively. Have a look at the Alberta Mortgage Rates here. Before selecting any mortgage products, terms or rates, contact your Calgary Mortgage broker to find out more.
RBC to hike mortgage rates on Tuesday
Real Estate Investor Mistakes
Debt Consolidation E-Book
Buying A New Home?