Saskatoon Mortgage Broker shares article – Why a one-year fixed mortgage is your best bet


It has become a lot tougher to make sense of mortgage rates in the past few weeks.

With Canada in the midst of economic misfortune (the decimation of its oil industry), inflation expectations are falling. That usually leads to a drop in mortgage rates. But in today’s bizarro world, the usual is not happening.

What we’re actually seeing is banks moving rates up. In the past week alone, advertised mortgage rates have jumped 0.10 to 0.15 percentage points at our Big 6 banks. That has surprised and confused not only borrowers, but many mortgage professionals.

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