TORONTO — The Bank of Canada hiked its key interest rate Wednesday by a quarter percentage point, bringing the rate to 4.75 per cent — the highest it’s been since April 2001. The hike is aimed at quelling inflation, which has proved stubborn, not moving down quickly enough toward the central bank’s target of two per cent. However, the hike is also bound to weigh on those hunting for homes or holding mortgages. What does the interest rate have to do with my mortgage? Mortgage rates tend to move i
— Read on ca.finance.yahoo.com/news/interest-rate-hike-means-mortgage-162818361.html
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