I feel like my only updates are rate increase notices!
I suppose that means the economy is strengthening however.
The Bank of Canada benchmark rate has increased from 4.64% to 4.84%. This means for all high ratio mortgages, 4.84% is what's used for qualifying. Same goes for all variable/HELOC mortgages, as well as "insurable" conventional mortgages.
Clear as mud? Feel free to post your questions. Basically it means borrowing power will be decreased.