The last month or so has given a clear indication that we are near the finish line of this stressful pandemic. Use any cliche you want but the light really is at the end of this long tunnel and with that will come economic recovery and growth. There is ample evidence to support the notion that many of the most severely affected parts of our economy, most notably, the service sector, will recover more quickly than others.

There are already signs that inflationary pressure from government assistance programmes to faster growth will result in a quicker move from the central bank to raise interest rates more quickly than originally forecast. The US Federal Reserve has said much the same thing.

As a result, we can expect a rise in interest rates by mid-2022 and not 2023.

With record-low mortgage rates right now I would be talking to my mortgage provider to lock in on a fixed rate for at least 5 years and maybe longer.  We may never see lower rates for a very long time.