Rates.ca notes the benchmark mortgage rate is 4.75 per cent, which is the highest in two decades.
Rates.ca released a study in June examining mortgage quotes, which found refinancing queries grew in May about 17 per cent over the same month in 2022, while renewals increased six per cent.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
That turned out to be the case with the central bank increasing the overnight rate 25 basis points on June 7 after keeping interest rates steady since January.
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