Stay up to date: Interest Rates Likely on Hold Until Spring
November 23, 2017 | Posted by The Rocca Sisters & Associates
The Real Estate Market is a unique, ever-changing market that is constantly exposed to a wide a range of external factors that can affect the processes of both buying and selling. We at The Rocca Sisters & Associates are committed to ensuring our clients stay informed and up to date with changes that affect the Real Estate Market.
The November 16, 2017 CIBC Capital Market Economics Insights Report announced that The Bank of Canada has made the decision to wait until at least April of 2018 to change interest rates. The CIBC Report explains that this delay will allow some time to watch NAFTA negotiations and the direst Q4 GDP data before taking any other steps. The Bank of Canada maintained its target for the overnight rate at 1% on October 25th, saying it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation. It also pointed to unknowns around NAFTA renegotiations.
The CIBC Capital Market Economics Insights Report explains that since Canada’s fourth-quarter GDP numbers are not out until the spring, the central bank will likely delay another increase at its next announcements in the coming few months. This will also allow more time to monitor NAFTA discussions. Holding interest rates would allow the bank to assess how a breakdown in negotiations would impact business confidence and capital spending, the report says.
The best thing anyone can do right now is speak to a professional like The Rocca Sisters & Associates, and go to the bank and re-evaluate your overall financial situation to see where and how your bank can help you. If you are not working with anyone, The Rocca Sisters & Associates’ partners at CIBC would be happy to talk to you at a time that is good for you.
To Read the full CIBC Capital Market Economics Insights Report please visit: http://economics.cibccm.com
The Rocca Sisters are award winning sales representatives with Royal LePage Burloak Real Estate Services Ltd., Brokerage – they are #3 in Canada and #1 in Burlington and area for Royal LePage in 2015 based on sales production and volume. Cathy and Tanya can be reached at 905-335-3042, directly at 905-335-4102 or by email at info@roccasisters.ca. Learn about our featured listings at www.RoccaSisters.ca.