RBC and Scotia surprisingly raised fixed rates further today, a mere two weeks since last spike. Suspect others may follow. Was a 1/4 point increase lifting popular 5 yr. fixed rate to 4.7% range with these lenders. Still others available as low as 4.19% for same product in broker channel.
Variable still a super low 1.75% on with 3 year term and some experts suggesting US difficulties may keep prime rate low for years to come since large jumps in Canadian Prime Rate would further strengthen Cdn $. Will depend a lot on inflation.
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