Back to Blog

Fixed Interest Rates on the Rise | Cause for Concern?

General Angela Calla 26 Feb

Fixed rates and variable rates follow different economic indicators, fixed rates are based on the bond market and this is were we are presently seeing notable increases. The Bank of Canada is watching the housing market closely and while they don’t intend to raise rates, it is important to make your decisions with caution, as the circumstances change.

Bottom Line.

It’s time to lock-in mortgage rates. For those in the market, pre-approvals are prudent. Rising rates will likely trigger more housing activity in the near-term as those thinking of buying might move off the sidelines, pushing prices higher over the first half of this year. 

If you are shopping for a home?

Get a full pre-approval  (verification of credit, income and down payment) and stay in communication with your provider on your progress. Rates holds ranges from 90-120 days and some specials are only available for LIVE purchases with an accepted offer in place within the time frame of your pre-app.

If you have a renewal upcoming in the next year?

Time to secure an option, in the event rates continue to rise it may be better to renew early.

If you have debt outside your mortgage?

Such as credit cards, lines of credit or loans or require funds for a renovation, its prudent to review if you qualify to include that into a new mortgage to save money monthly and improve your cashflow to grow your wealth while rates are still very low.

The surge in interest rates would undoubtedly stall or reverse if we see a third wave of new variant COVID-19 cases in advance of a full rollout of the vaccines in Canada. However, there is enough monetary and fiscal stimulus in global markets, and oil prices are expected to continue to rally sufficiently that an ultimate rise in interest rates cannot be far off. This is indicated by the dollar moving to a near a 3-year high. For the full report click here:

If you or a loved one have mortgage questions, a  mortgage renewal upcoming or need access to your equity, please reach out to us directly by reaching out by calling 604-802-3983 or via e-mail at and we are happy to help.

For more information on this, please follow this link to Dr. Sherry Cooper’s site.

Angela Calla is a 16-year award-winning woman of influence and mortgage expert. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. She educates and empowers individuals on “The Mortgage Show”, and is the best selling author of The Mortgage Code where all proceeds are donated to the YWCA.

Angela is a magazine contributor, speaker, and recently collaborated to publish her third book, Pursuit:365. In August of 2020, Angela surpassed $1 Billion dollars in funded personal mortgage volume at the young age of 37 and was recently awarded the 2020 Business Leader of the Year Award. Angela leads by example with passion and conviction, known as an industry expert and go-to source for media and publishers across the Country.

For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at or 604-802-3983.