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What The Recent Bank of Canada Announcement Means for You
Chris Holm & Associates
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
What The Recent Bank of Canada Announcement Means for You
The Bank of Canada surprised markets on January 26, 2022, by keeping its key lending rate at 0.25 percent, while putting Canadians on notice that interest rates will eventually rise.
The central bank decided to hold on to rates despite surging inflation and a stronger-than-expected economic recovery. Heading into the decision, many financial institutions and gurus predicted a rate hike, however, the Bank of Canada judged that a fresh pandemic wave wasnāt the opportune time to launch into a rate hike cycle.
If there's a chance you want to get into the 2022 real estate market, it's imperative that you lock in a rate hold with your mortgage professional. A rate hold will guarantee a rate for your mortgage for 120 days.
If you'd like an introduction to a trusted mortgage professional, please reach out and we'd be happy to make a referral.