The Bank of Canada announced today that it is holding the overnight rate given the growing uncertainty in trade talks affecting Canadian and global outlooks.
The Bank noted that “while the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target.” The next rate-setting day is Wednesday, April 18.
Get in touch if you have a variable-rate mortgage and have questions about your mortgage strategy. Or perhaps you need a new mortgage, are renewing, or are looking to refinance for debt consolidation, renovations or other large expenditures.
Given new rules that went into effect on January 1, it’s very important to work with an experienced professional who knows the right questions to ask to assess your situation and provide the direction you need to achieve your homeownership goals and save money over the long term. Good advice early saves time and stress!