He reminds his students of his own experience, which included a variable rate mortgage of 24 per cent in 1981, during a period of volatile interest rates. But for first-time buyers and home owners looking to renew there is nowhere to hide from a rising interest rate environment. "We're definitely in an increasing interest rate environment. "Variable rates are now up by a quarter of a point. "It would be nice if savers were treated to this rising interest rate environment instead of borrowers simply paying," said Laird.

Source: thestar January 19, 2018 18:11 UTC