This morning, the Bank of Canada issued an upbeat economic outlook and maintained its Key Interest Rate at one per cent. The rate hold mirrors decisions by the European Central Bank and the Bank of England. This extends the BoC freeze on borrowing costs for an 18th consecutive month.
While the Central Bank rate has not budged, one of the Big Banks again restarted a Mortgage Rate Sale. Will the other Banks follow today? Tomorrow? Next week? Will the Rate Sale last longer than the one in January? Or will it be cut short?
How is this affecting home prices and activity? Call anytime.