The weakened Canadian dollar suggests the Bank of Canada will not change rates this month and reduces the chances of a rate hike in December
The Real Estate market has been challenged a lot this year with implementation of things like the stress tests, expanded rent controls, two interest rate hikes in 2017, and 15% non-resident speculation tax in the Golden Horseshoe (ON).
However, with the Canadian dollar still being low, it now seems that the chance of a third BoC (Bank of Canada) rate increase this year is reduced.
Looks like we may be dodging the bullet on a third interest rate increase this year.
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