Canadian Interest Rates Are On The Rise

posted by: Jayden Wiitenberg No Comments

The Bank of Canada is expected to raise interest rates on Wednesday.

 

“Canada’s economy, swept up by a synchronized global expansion, a housing boom and recovering oil prices, had a banner 2017 that included a sharp drop in unemployment and output growth that beat expectations. Policy makers now worry the economy could soon overheat, triggering inflation. Which is why they raised borrowing costs twice last year.”

 

RBC and other major banks have already raised their fixed mortgage rates in anticipation of Wednesday. Will this have an affect on the Real Estate Industry? Check out the links below for more information.

 

http://www.bnn.ca/rbc-hikes-mortgage-rates-ahead-of-bank-of-canada-rate-decision-1.966188

The big question isn’t whether the Bank of Canada will raise rates this week