Quote:
Originally Posted by TheRitsman
Usually they raise rates on a quarterly basis. The first isn't likely to be until April. If they can sell the majority of the units in February and March, which seems possible in Hamilton's current market, they'll be fine.
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They are announcing a rate
change on January 26. Whether it's substantial or not remains to be seen.
Also, these are anything but normal times. We're experiencing unusually high levels of inflation due to large government spending at the moment and other pandemic related pressures. If you're on a variable rate mortgage, i'd think about getting in touch with your bank soon.
Edit: This article came out just today.
https://www.bnnbloomberg.ca/bank-of-...rgan-1.1706717