If you're riding the variable rate it can be scary sometimes, it can even keep you up at night. With interest rates at historical lows people are starting to wonder when and how high rates will go. Peter Kinch, The Number 1 Mortgage Broker in Canada, has insight on what to expect in the short term and in the next 2 to 4 years.He points out that interest rates are at their lowest ever which is attracting buyers to the market in turn firming up prices. Housing affordability is very good right now so take advantage while you can.
He also expects rates to go up 3% in the next 2 to 4 years.
Watch the full interview here on CTV News.
Small piece of trivia Mr. Kinch lived in the same city I do in Japan and we have mutual acquaintances - Six degrees of separation!
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