Our Mission Statement

Our Mission Statement: To deliver consistent, ongoing and valuable information to clients to make them intelligent and educated real estate wise.

Tuesday, July 4, 2017

Is There An Impending Interest Rate Increase?

There has been two articles posted in The Toronto Star recently about the Bank of Canada governor making statements that seemed to imply that rates will be going up. While we won't know until July 12 as to what he will actually do every homeowner or prospective home buyers should keep track of rates.
Here are the links to those articles-
https://www.thestar.com/business/economy/2017/07/04/bank-of-canada-governors-comments-fuel-talk-of-interest-rate-hike.html
https://www.thestar.com/business/2017/06/28/low-interest-rates-have-done-their-job-bank-of-canada-governor-says.html
Interest affects everyone with a mortgage as a homeowner or a prospective homeowner or whether one is selling and buying as an upgrade of their present abode. It will also affect a mortgagor if your mortgage term is about due depending on the new rate- in which case it may be best to speak with your realtor or mortgage broker about early renewal.

Do a copy and paste to the above links if necessary.

No comments:

Post a Comment