Interest rates not likely to adversely affect the Okanagan Real Estate market for some time

Sometimes I think the Canadian Government keeps this black cloud over our heads that interest rates are going to go up in order to maintain positive growth. The Bank of Canada overnight rate maintained at 1% again and the Royal Bank actually lowered some of their closed rates. Other banks are likely to follow in order to compete. I suppose one of the possible explanations is the weaker dollar. The silver lining in that cloud is our export outlook is getting a lot better. Not that I am the authority on this but my guess is rates will continue to hover where they are at for at least another year and likely longer than that. 

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