Mortgage Rates Are Likely Going Higher

Don't shoot the messenger, but it looks like interest rates are likely going to be going higher.

This week The Bank of Canada maintained its target for the overnight rate at 1¼ per cent. 

However included in the Bank of Canada's news release was the following:

Overall, developments since April further reinforce Governing Council’s view that higher interest rates will be warranted to keep inflation near target. Governing Council will take a gradual approach to policy adjustments, guided by incoming data. In particular, the Bank will continue to assess the economy’s sensitivity to interest rate movements and the evolution of economic capacity.

With it seemingly likely that mortgage rates will be rising in the coming months now would be a great time to buy a Brandon home........BEFORE those mortgage rates rise.

Even better we find ourselves with a pretty good buyers market here in Brandon.  There are lots of houses for sale and not a lot of people buying.

Call or text me 204-724-2573 if you are ready to pounce on this opportunity.

Image result for rising mortgage rates

 

Blog Archives

Tags