News
Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
Rates increasingly look like they have peaked
Inflation numbers have come out higher than expected offshore so expectations have grown that central banks will continue to raise their interest rates at a rapid pace. But therein lies some important information.
Monetary policy still tightening
Two weeks ago I wrote about how fixed mortgage rates for periods of two years and beyond may be at or very close to their peaks this cycle. Since then, a few things have happened which reinforce that view.
Mortgage rates near their peaks
Banks have recently increased their fixed mortgage rates in response to a jump in the wholesale interest rates at which they themselves borrow. The question now is how much more will wholesale borrowing costs will rise? In that regard, the news looks good.
A global interest rate shock is underway
As a result of annual inflation rates surprising on the high side overseas, recent renewed increases in energy prices, and rising food prices because of Russia’s blockade of Ukrainian ports, central banks have all but pressed the panic button.
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