I noticed today that the interest rates have jumped up a little bit in Canada. Yesterday's rate for a 5 year term was 3.54% and today I saw it at 3.79% (from Canequity.com). I am hearing rumblings/rumours that it may go up to 4% or more next week.
If you are planning on purchasing a home in the very near future, you may want to see your banker or mortgage broker for a mortgage preapproval before the interest rates go up.
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