Peter Kinch

Say What? How can rates be rising when the media keeps telling us that there won't be a change in rates until 2014? Well the media is talking about the Bank Of Canada Prime lending rate and yes, there is no change there - But that doesn't mean that there won't be a change in the 5 year fixed rates. Fixed rates are governed by the BOND YIELDS - and they have jumped up significantly. As the bond yield goes up - so too does the long term fixed rates.
Translation: Look for a jump in the 5, 7 and 10 year rates over the next 72 hours.