MONEY GLOBE XHousing Markets · Lesson 3
Interest rates and your mortgage
Why a few percent changes everything
Members
In this lesson
See how interest rates set mortgage payments and buying power, and how the central bank and bond market move them.
Key takeaways
- Small rate changes make big differences to mortgage payments and borrowing power.
- Variable mortgage rates follow the central bank's policy rate (through prime).
- Fixed mortgage rates follow government bond yields, especially the 5-year bond.
- Canada's mortgage stress test checks borrowers could pay at a higher rate. Rules change — always check the current ones.
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Next lesson: Central banks and housing
Educational information only - not financial advice.