The next Bank of Canada meeting is in May. The market is not expecting a rate increase. After that the next meeting will be in July.
Guaranteed lowest mortgage rates, call Robert Clancy today: (416) 899-1467
The next Bank of Canada meeting is in May. The market is not expecting a rate increase. After that the next meeting will be in July.
Canada’s annual inflation rate fell slightly in February, giving the Bank of Canada room to keep interest rates low over the next few months, economists say.
Statistics Canada said Friday its consumer price index edged down one-tenth of a point to 2.2 per cent in February, with rising energy and gas prices keeping inflation just above the Bank of Canada’s ideal two per cent target.
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Mortgage fixed rates edged lower yesterday with the averaging 5 year fixed dropping from 4.04% to 3.94%. With the variable mortgage holding steady at 2.30%, this is good news for home buyers entering the Spring real estate market.
Report form CMHC
Housing starts will be in the range of 157,300 to 192,900 units in 2011, with a point forecast of 177,600 units. In 2012, housing starts will be in the range of 154,600 to 211,200 units, with a point forecast of 183,800 units.
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Mortgage lenders increased fixed mortgage rates by roughly .20% this week. This was expected with the Bond yields moving up last week. Over the past year fixed mortgage rates have fluctuated up and down by roughly .80% from 3.79% to 4.59% but overall remained flat i.e. the trend has not changed. The question that everyone is asking now, is the trend finally breaking into a upward trend in both fixed and the variable lending rate. This remains to be seen. Just as we think the trend is breaking and moving up we get a bad piece of economic news which corrects the trend.
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