Fed move unlikely to cause significant boost in Canadian rates: experts
TORONTO — Canadian mortgage brokers say it’s unlikely the U.S. Federal Reserve’s rate hike will cause any significant boost in mortgage rates north of the border.
“The bond market is pretty smart,” says Steve Pipkey of Vancouver-based online brokerage Spin Mortgage.
“They’ve already priced in this U.S. Fed increase.”
However, one lender announced changes to some of its mortgage rates shortly after the U.S. central bank boosted its key interest rate by a quarter point to a range of 0.5 to 0.75 per cent.