Bank of Canada interest rate rise

The Bank of Canada just raised their rate to 1.75% so we can expect to see the banks raise their interest rates shortly.


Apparently they are 'feeling positive' about the economy, especially since the signing of the trade deal with the US and that the economy is actually growing faster then predicted.


The downside will be higher mortgage rates and how this could effect homeowners who purchased in the last 5 years and are on variable rate. Could this be the time to switch to a fixed rate mortgage?


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