We have had a day to digest the interest rate hike from the Bank of Canada (BoC) announcement. Unfortunately, the messaging from the BoC was not clear for Canadians to understand. They said that this increase is potentially a "pause", unless the data says otherwise, in which case, rates will continue to rise.
After claiming “interest rates are very low and they're going to continue to keep rates low for a long time”, the communication was vague and noncommital.
Historically, when rates fall, home prices rise. This could be a signal that we are nearing the end of rate increases.
We're happy to discuss what we're seeing and ways that we can help.
Call us today to find out more.
