Will Mortgage Rates follow the Recent Jump in Interest Rates?

Yes! Mortgage rates have climbed slightly from their all time low. Historically low funding costs for canadian banks translated to deep discounting of mortgage rates for Vancouver home buyers. Some banks are still lending fixed rate mortgages at well below the prime rate. Apparantly the rise in Canadian interest rates may have more to do with what's going on in the USA than in our domestic economy.

Or perhaps markets are pricing in a more positive global market outlook. 

Economists are predicting a modest increase in the 5 year fixed rate, with perhaps a 1/2 point rise by end of 2014.

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