Interest Rates Going Up Again after Jan 1 Mortgage Rules?

The Bank of Canada will make an interest rate announcement on Wednesday January 17. Some are guessing they will raise interest rates again, and others say they won't raise rates again so soon.

If they do increase interest rates again, presumably another 0.25%, this will be on the heels of the January 1, 2018 mortgage rule changes which puts more pressure on home buyers.

Buyers wanting a mortgage will now be able to borrow less money than they did in late 2017.

Some say home prices will drop further in the GTA in early 2018 as a result. 

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