Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.
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Homeowners with mortgages to get short-term relief, but future Bank of Canada rate hikes a ‘looming’ fear
The Bank of Canada announced Wednesday it was holding its key interest rate steady at 5 per cent, but borrowers shouldn’t celebrate just yet. Due to the rising concern about inflation, the bank is leaving the door open to future hikes. Rising rates have affected homeowners with variable-rate mortgages, reports Rachelle Younglai. This week’s decision has some borrowers in a state of “constant looming fear” that a hike in the future will