Bank of Canada holds Overnight Interest Rates

With all the uncertainty in Europe, high unemployment and economies expected to be flat it was an easy decision by the Bank of Canada to leave the rates where they are.  With all the news of mortgage rates increasing we won't expect them at least this year in my opinion.  So we can continue to enjoy the low rates and if you are a buyer, sitting on the sidelines for awhile, the summer is your best time to look and buy when seasonally many stop.  You'll be less likely in multiple offer situations and pick up a home, maybe a few thousands dollars cheaper.

Below you can read the artcile from The Globe and Mail

At a decision Tuesday in Ottawa, Bank of Canada Governor Mark Carney left his main interest rate at 1 per cent for the 14th consecutive decision, extending the bank’s longest pause since the 1950s. But even as he sounded a more cautious tone, Mr. Carney indicated he remains worried about high personal debt and hinted he is still eager to tighten policy as soon as conditions allow.

Read more 

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos