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Rates May Rise Sooner Than Expected!

Mark Carney Hints at Higher Rates - The Globe and Mail

This may be a a sign to go with a longer term fixed rate mortgage, as apposed to a variable rate. It's hard to judge what you should do on this hint of higher rates, but the Bank of Canada has been prepping for a return to higher rates for the last year. As discussed in this article, the government is concerned about how house hold debt will be effected by any rate increases, so I suspect from this reading that upward pressure will be somewhat muted as the government tries to encourage economic growth.

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