RE:RE:How is it bad for AC?Actually, it is a pretty simple answer! Bank of Canada and Fed rates do not determine long term mortgage rates! The long term bond price determines long term mortgage rates. It does not take a rocket scientist to see that housing especially in Canada is in a massive bubble by super low mortgage rates. I know people will say but it will only increase interest rates 1 or 2 % that is now how it works. If you are paying a 5-year mortgage of 1.5% and long term bonds rise 1.5% it will cause mortgage rates to rise about 1.5% so you will pay 3%. Yes still historically really low but going from 1.5% to 3% means your payments double. Essentially that would put about 1 in 5 mortgage holders teetering on default. Do you travel or pay your mortgage? I might cut my trips to the Carribean from 3 to 1 every years even that is a 33% cut in travel.