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24 Oct

Bank of Canada Raises Rates

General

Posted by: Angela Calla

Bank of Canada Raises Overnight Rate Target

As expected the Bank of Canada raised its overnight rate .25%, banks are expected to follow.

View the full report here: https://www.bankofcanada.ca/press /

Key Takeaways

  1. Canada continues to attract business investment, LNG deal being finalized placed confidence in growth of the economy.
  2. Despite Tariffs Canadian exports are strong, and now that trade agreement is done the bond market has responded with confidence moving forward.

More gradual increases are expected to come –

The next scheduled date for announcing the overnight rate target is Wednesday December 5, 2018. To learn more about what to do if you have a variable or fixed rate see our October Mortgage Update here http://angelacalla.ca/blog

Any questions?  We are here to help. John, Julie and Dave are standing by at 604-939-8777 or callateam@dominionlending.ca

 

Angela Calla, Mortgage Expert, AMP of the Year in 2009 has been helping British Columbian families save money with the best mortgage strategy for over a decade from her Port Coquitlam office location. She is a regular contributor to national and regional media outlets and long-time host of The Mortgage Show on CKNW Saturdays at 7pm, and sits on many advisory boards for mortgage lenders and insures. Most recently a best selling author of The Mortgage Code available on Amazon.