The Latest in Mortgage News: BoC likely to hike rates 75bps as inflation expectations grow - Mortgage Rates & Mortgage Broker News in Canada

Abstract

The BoC’s Business Outlook Survey and its Canadian Survey of Consumer Expectations show inflation expectations on the rise. Nearly half of firms anticipate their wage increases will remain above pre-pandemic levels beyond the next 12 months. Inflation expectations have also risen among consumers, along with concerns about rising prices for food, gas and rent. Three quarters of hopeful homeowners worried about rising rates. The rapid rise in interest rates is causing concern for prospective homebuyers.