The Bank of Canada once again held it's target overnight rate at 1%. This is the longest the rate has held at this point since the 1950's. Economists are forecasting the rate to slightly increase towards the end of next year by 25 basis points. But this forecast essentially helps to keep mortgage rates low until later in the year next year. Making it a perfect time to get into the market or make a new purchase.
I expect 2015 to be another good year for people looking to buy or sell a home. It will be interesting to see if this holds true.
Bank of Canada holding target overnight rate at 1% - Tips from your local South Surrey/White Rock Realtors
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.