If you got a mortgage last year, you snagged one of the lowest rates in history. Last September, folks were getting five-year rates at never-before-seen numbers, such as 2 per cent. Today, most rates on Canada's predominate mortgage – the five-year fixed – are north of 3 per cent. In just the past three months alone, the five-year government yield – which leads fixed mortgage rates – has rocketed 75 per cent higher. Despite mounting funding costs, some lenders had delayed their rate increases.
The Bank of Canada simply couldn't wait until its October meeting to raise rates. So it jumped at the chance to make a quarter-percentage-point hike on Wednesday. Its impatience should put every mortgage holder on alert. With Canada's blazing economic growth, the bank is genuinely worried about being behind the curve on inflation and not "normalizing" interest rates quick enough.
About one in six people with mortgages will refinance this year. And too many will pick the wrong financing. That's a problem. Refinancings aren't cheap and they often involve penalties, so folks need to choose the right mortgage from the get-go. To assist with that task, I've quizzed a crew of mortgage advisers, asking for their best recommendations. If you're contemplating a refinance, these tips could save you some bucks. Picture a 45-year old couple with two young kids and no more planned.
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. "David Pogue")
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both Elon Musk and Mark Zuckerberg by
searching Obama AND Romney or Obama + Romney.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used.) For example, search for democrat OR republican to find results that refer to
Democrats and/or Republicans.
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Exact case matching or punctuation
If you're searching for a brand name or keyword that relies on specific punctuation marks or capitalization, you can
find results that match your exact query by adding matchcase: before the keyword you're searching for, like matchcase:E*TRADE .
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.
An asterisk can be used to search for any variation of a root word truncated by the asterisk. For example, searching for admin* will return results for administrator, administration, administer, administered, etc.
A near operator is an AND operator where you can control the distance between the words. You can vary the distance the near operation uses by adding a forward slash and number (between 0-99) such as strawberries NEAR/10 "whipped cream", which means the strawberries must exist within 10 words of "whipped cream".