Home loan rate report released for October.

Summary Below: 

• Fixed-term mortgage rates have risen significantly since early 2021 and, despite the recent dip in some fixed-term mortgage rates, we predict more increases over the rest of the year

• We think it is prudent for borrowers to budget on mortgage interest rates being higher than they are now over the coming years

• We expect most fixed-term mortgage interest rates will peak within a 7-7.5% range over the year ahead. Floating rates could peak around 9%. However, as is often the case, the outlook is far from certain

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For more information contact our mortgage team or give us a call.