Mark Allen, REALTOR®

BREAKING NEWS!! BoC Rates Unchanged

18 April 2018


BoC is holding its key benchmark interest rate unchanged at 1.25%. It was widely expected that this halt would occur after some uncertainty for Q1 in Canada's economy.

Is this a hawkish pause?! Does Poloz see caution signs in our economy? They have acknowledged some points of uncertainty, which again are NAFTA, household debt, slower economic growth/jobs and a more recent issue with pipeline/business investment concerns. The near term sentiment is that the Canadian Economy will have modest growth in Q2, and we will see consumers propping up the economy again once retail sales and inflation data is released.

This pause is a good time for Buyers to secure a great Mortgage Rate and start their search for their dream home. The BoC and other Economists are still bullish on the overall economic outlook going forward, which is great for Buyers that get into the market in the close future and hold their new home with a long outlook timeline.

#Toronto #InterestRates #BoC #Lendingrate #Realestate #Mortgages

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