Are the days of low interest rates coming to an end for Canadian homebuyers?
Fixed rates may be heading higher, but variable-rate holders can rest assured their rates won’t be going up just yet, at least according to Bank of Canada Governor Tiff Macklem.
During a speech on Canada’s labour market, Macklem said monetary policy will need to continue to provide stimulus for a “considerable period” because a complete economic recovery is “still a long way off.”
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Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: February 26, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/02/ latest-in-mortgage-news-boc-sees-early-signs-of-housing-overheating-but-will-keep-rates-low-for-now/