Home > Mortgage news > Rate hike holding likely to keep Vancouver real estate market hot

Rate hike holding likely to keep Vancouver real estate market hot


Looks like the Economists are wrong again! Why? becuz they can’t predict what the world is going on.   We started the year off anticipating a steady increase to the Prime interest rate, which would subsequently increase the variable mortgage rate. Now, with the Bank of Canada widely expected to hold off on a rate hike likely until 2012, house prices in Canada are projected to stay hot for a few months longer.  With signs the U.S. and global economies have entered a soft patch and the European debt crisis continuing to roll, most economists do not expect the bank to raise its overnight target rate until early 2012. That would mark a hold on interest rates for the BoC of longer than a full year. The last raise was in September 2010.   Low lending rates will continue to a fuel a Canadian housing market that appears in full bloom.

 

 

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