As inflation continues to send prices higher, the Bank of Canada (BoC) has been raising interest rates in an effort to get things back under control. Since the Bank carried out a successive series of rate hikes from March 2022 to January 2023, the prime rates of most lenders have nearly tripled, from 2.45% to 6.70%. This dramatic leap has prompted public concern about mortgage borrowers reaching their “trigger rate.”  If you have a fixed-rate mortgage, nothing will change... [read more]