04/22/2026
A war halfway around the world is affecting your mortgage rate in Vancouver. Let me explain.
When the Strait of Hormuz gets disrupted, roughly 20% of global oil trade gets choked off. Oil prices surge. Inflation creeps back up. Bond yields climb. And fixed mortgage rates follow within weeks, whether the Bank of Canada moves or not.
That's exactly what's played out since February. Brent crude has gone from $72 to over $100 a barrel. Fixed rates have already moved higher. And CREA just revised their B.C. housing forecast down to near-zero growth for 2026.
Full breakdown here: https://shawrealty.ca/d8rd3opx