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How are higher interest lending rates affecting Canadian homeowners?

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The Bank of Canada raised interest rates for the sixth time in seven months, with the announcement having an immediate impact on mortgages.

Combined with the continuing double-digit price increases for food and other commodities, today's rate hike could affect Canadian homeowners more than anyone else.

As Ross Lord explains, some are now debating whether or not to lock in their mortgage rates before they climb even higher.

For more info, please go to https://globalnews.ca/news/9226992/bank-of-canada-interest-rate-oct-2022/

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Category
U.S. & Canada
Tags
global news, Economy, inflation
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