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Originally Posted by bluejays
Really? Not arguing but why would the BOC need to keep rates high long term?
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Because rates aren’t historically high right now. Rates may get lowered to get out of recession. Rates may go up to fight stubborn inflation. I don’t think they will go down just because. So it depends which side are you betting on.
Maybe I should say if you are going to struggle to pay a mortgage if it happens the risk is high enough to re-think a variable product. If you can’t handle a 1-2% increase in rate you likely should be going fixed.