The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls “extraordinary forward guidance” in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and ...
Continue ReadingThe British Columbia Real Estate Association (BCREA) released it’s 2020 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 21 percent to approximately 61,000 units this year, after recording 77,347 residential sales in 2019. MLS® residential sales are forecast to increase 45.3 percent ...
Continue ReadingThe Bank of Canada held its overnight rate at 0.25 percent this morning, a level it considers it’s effective lower bound. In the statement accompanying the decision, the Bank noted that incoming data seems to signal that the impact of COVID-19 on the economy has peaked, though there remains significant ...
Continue ReadingHighlights: Wild year for interest rates Canadian economy: slow and steady Why is the Bank of Canada holding back? Mortgage Rate Outlook As the year ends, it’s worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve ...
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