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/2018/07/fad-press-release-2018-07-11/
Key Takeaways
- Canada continues to attract business investment
- Despite Tariffs Canadian exports are strong
- More gradual increases to come – The next scheduled date for announcing the overnight rate target is September 5, 2018.- we expect an increase then as well.
To learn more about what to do if you have a variable or fixed rate see our April insiders report here http://angelacalla.ca/general/insiders-update-april-2018/
Any questions? We are here to help.
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.
