Our Blog

Bank of Canada holds key rate
 March 6 2019     Posted by


Wednesday March 6, 2019

 

The Bank of Canada announced today that it is keeping its key rate unchanged.

 

The Bank noted that while a slowing economy was anticipated in late 2018 and early 2019, the slowdown was in fact 'sharper and more broadly based' than expected. While there was growth in employment and labour income, consumer spending, the housing market, exports and business investment all fell short of expectations. As a result, the Bank is now pointing to increased uncertainty about the timing of future rate hikes.

The next rate-setting day is Wednesday, April 24th

Be sure to get in touch if you have questions about your mortgage plan, or if you need a new mortgage, are renewing, or are looking to refinance for debt consolidation, renovations or other large expenditures. 

If you or anyone you know is cash poor but house rich, now may be the time to consider a reverse mortgage. It's a brilliant way to help children or grandchildren with their downpayment, buy a second property, start a business, or complete renovations.

It's so important to work with an experienced professional who knows the right questions to ask to assess your situation and provide the direction you need to achieve your goals for homeownership and wealth building.

Good advice early saves time, money, and stress!

Call today to discuss your plan.


Bookmark and Share