True North Mortgage said that its advertised five-year fixed mortgage rate went up several times over the course of Sept. 29, from 1.79% to 1.99% as of the time of its announcement.
Scott Haggar, marketing manager at True North Mortgage, said that this surge might herald a new trend in fixed-rate offerings in Canada.
“After months of lows, and continued historical lows during the pandemic, we’re wondering if this is the turning point for fixed rates,” Haggar said. “We’ve been watching the five-year rate climb several times [on Sept. 29], with many lenders raising their rates.” #SANDI HALPERN # SOLD # LEASED # MORTGAGE RATES
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