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- Advanced Mortgage Investment Corporation

Solutions for borrowers, brokers and investors

Bank of Canada Hints at no Interest Rates Hikes until 2023

Bank of Canada Hints at no Interest Rates Hikes until 2023

Date Posted: July 20, 2020

The recent Bank of Canada announcement that their overnight lending rate was remaining unchanged at 0.25% was less of an announcement than the Bank of Canada Governor Tiff Macklem stating that ‘interest rates are very low and they are going to be there for a long time’.

This announcement was met with excitement as many observers believe that interest rates will remain near their historic lows until at least 2023, as a result of Covid-19 and its impact on world markets.

Prospective homebuyers can rest a little easier knowing that interest rates will likely remain low for quite some time and that will make their mortgage decisions a little easier today.

To read the full article; click here:

Contact your Mortgage Broker today for more trusted advice