Bank of Canada maintains interest rate and says inflation target of 2 % on track for third quarter 2011. Their Oct. prediction for inflation to hit 2% being 3rd quarter 2011 might indicate that rates could remain steady without any upward adjustments thru 2010. As the Canadian Real Estate Association's Chief Economist stated , " repeating its concern voiced in October, the Bank of Canada reiterated the risk that the strong Canadian dollar poses to economic growth. They also opened the door to keeping interest rates on hold longer than expected. Low interest rates are likely to continue to fuel home price increases. " With the current interest rates at all time lows and city and provincial economies strong now is a good time to look for your next home.
Posted by Ray Brownlee
on December 10, 2009