Bank of Canada to raise rates 50 points for June??? Canuck Buck Shoots up 150 points. Cornwall Ontario – April 21, 2010

Cornwall ON – It looks like Mortgage rates will be going up again by June according to several media reports regarding the Bank of Canada rates.  Some are speculating that the rate hike will be as high as half a point.

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“Removing the conditional commitment … [is] as good as cementing a June 1 hike,” said Derek Holt, vice-president of economics at Scotia Capital. “That leaves open the debate over whether 25 basis points or 50 basis points is likely.”

Guess it’s time to renew before rates really jump.  What do you think Canada?  Are you going to renew?  Are you considering buying a home while rates are relatively low?  Post your comments below.

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