Will Mortgage Rate Cuts Follow?
I am not sure I am “shocked” by this, more of a surprise it happened this early but I think most, at least in the mortgage industry, would say this was expected at some point this year.
Read the whole article about Bank of Canada rate cut announcement, published in Globe & Mail.
This rate cut of course impacts variable rate mortgages which if you have one is great.
Fixed rates in the mean time have also been dropping overt the past week.
We are nearing the all time lows we saw about 2 years ago.
If you have questions or want to discuss your mortgage options, as always just drop me a line!