Massive Rate Hike!

The Bank of Canada surprised everyone this morning raising interest rates a full 100 basis points - the largest single increase in 24 years. We’ve now seen rates increase by 2.25% in just 5 months, radically transforming the lending landscape and housing.Buying power is down over 20% and mortgage payments compared to January of this year are upwards of 50% higher. Understandably, this is going to drastically affect house prices. Already down 13% from the Februar...