Banks Don’t Want You to Know This

Here’s a tip that can help save you hundreds, maybe even thousands of dollars.

Fixed mortgage rates tend to increase before the Bank of Canada increases their interest rates.

The reason for this is because fixed mortgage rates are determined by what happens in the bond market, and as we know, the bond market is determined by savvy investors.

These investors are also anticipating the Bank of Canada will raise interest rates on December 7th, so they are including this rate increase into their investment decisions.

If you want to get the best mortgage rate possible, submit a rate-hold before November 17th, when StatsCanada releases their inflation report.

If you have any questions, feel free to message me or give me a call. I’m happy to help, and let’s get an application started for you.

Adam Sale
778-215-4121
adamsale@dominionlending.ca