Housing Affordability Is Even Worse Now

Quantitative tightening is still very much at the forefront of monetary policy as we saw mortgage rates on the rise again this week. With variable rates now above 5 year fixed rates for the first time since 2019, sitting on average around 5.5%! Fixed rates for comparison sake are sitting at 5.1%.This week we explore what's happening nationally and how Vancouver stacks up against other major metros. For context and as we look across the nation, this is the most rapid rise in interest rates in ...