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Article content This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on this page Canadian homebuyers were already encountering rising prices and tight supplies of houses for sale. Now, they’re starting to face one more challenge as they venture into the nation’s sizzling housing market: rising mortgage rates. We apologize, but this video has failed to load. Try refreshing your browser, or Canadian mortgage rates are being pushed higher. What can a borrower do? Back to video Several of Canada’s major banks recently hiked their rates on fixed-rate mortgages, something they hadn’t done since before the pandemic. As a result, the rates most borrowers pay are now higher by as much as one-quarter of 1 percentage point on loans with five-year terms.

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