April 12, 2023
The Bank of Canada maintained its current interest rates. The central bank is under pressure to combat rising inflation, but economists believe that it is unlikely to raise rates until later this year or early next year.
This decision could be influenced by the current state of the COVID-19 pandemic and its impact on the economy. While low-interest rates may be beneficial for borrowers, they can also lead to increased debt and financial instability. As a potential home buyer or investor, it’s important to understand the Bank of Canada’s interest rate decisions and how they may impact the housing market. While rates are expected to remain stable for the time being, borrowers should still be prepared for the possibility of future rate hikes and adjust their financial plans accordingly. By keeping up to date with the latest news and information, homeowners and potential homebuyers can make informed decisions about their mortgage options.
