The Latest in Mortgage News: BoC likely to hike rates 75bps as inflation expectations grow

The Bank of Canada (BoC) is likely to join the "75-bps club" and increase interest rates as inflation expectations rise, according to two BoC surveys that show consumers and businesses expect high inflation to persist longer than previously thought. HomeEquity Bank, the country's leading bank offering reverse mortgage solutions, was acquired by the Ontario Teachers' Pension Plan Board. Meanwhile, over three-quarters of Canadians who are likely to buy a home in the next year are worried that rising rates will impact how much home they can afford, according to an Ipsos poll conducted for TD.