April 2022

Found 1 blog entry for April 2022.

Justin Havre on Rising Mortgage Rates in CalgaryIn April 2022, The Bank of Canada boosted its policy interest rate by 50 basis points to compensate for economic inflation experienced across the world. Many global factors drive inflation, and all of us can see the effects right here in Calgary.

The recent rate hike was Canada's most drastic increase in decades, and despite forecasts from expert economists, no one knows for sure how much higher the Bank of Canada will increase rates.

Amidst this uncertainty, Calgary homeowners wonder what this means for their mortgages. To shed some light on the situation, Justin Havre weighed in on rate hikes, estimated monthly payment increases, and whether or not the changes will cool Canada's highest-ever real estate demand.

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