Bank of Canada holds key interest rate at 5%, says things moving in right direction
Bank of Canada holds key interest rate at 5%, says things moving in right direction
Apparently people didn't get the notice. Mortgage interest rates are still >5% for anyone renewing now. Three new houses are being built right now in the street behind mine.
Weird how our neighbourhood didn't see any new buildings from 2016-2022 but now it rains, it pours.
Could it move in time for my renewal in February?
There’s backer expectations of at least one drop in the second half of 2024
I’d you look at bank gic rates you’ll see an indication of what the bankers are predicting
For example, short term 1 year or less, have better rates than 2-5 because of this sentiment
That doesn’t mean it’s guaranteed, just the overall direction that is being expected
However, of you have some cash, there OSS some quick 5% returns to earn on 8 month gics lately
Line goes up, bank happy.
Holds interest rate... things moving in the right direction.
I don't know about anyone else, but not moving isn't moving in any direction 🤔