Well the last week of March didn’t exactly hold too many surprises with respect to mortgage rates in Canada. The 5 largest banks in Canada all hiked their rates in light of the recent rise in interest rates.

I for one am glad to see this occurring and the Canadian government being proactive in guarding against undue inflation. Considering our relative bounce back from the fallout of the subprime fiasco in the states, I’m hopeful that we also learned some lessons about borrowing huge sums of money. I think it’s safe to say that the housing market is alive and well in Canada, and maybe a little too well so hopefully this recent jump can help cool its jets and bring housing back into the realistic pricing range for the average single family.