Quote:
Originally Posted by Fuzz
"Will the Bank of Canada raise mortgage rates again in 2023?"
Tell me again how good we are at financial literacy. Ugh.
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I mean, I get you have concerns with Yoho/Twitter, but that's a distinction without a difference.
When the BoC raises short rates, the banks immediately raise prime which automatically raises variable mortgage rates.
Saying the BoC isn't raising mortgage rates is very much akin to Nelson hitting Milhouse with his own hand and saying "stop hitting yourself". The BoC owns the raise in mortgage rates even if someone who probably shouldn't be a financial pundit got the headline technically incorrect.