Summer ’17 mortgage update
There has been a lot of media chatter lately, that the Canadian economy may be showing significant signs of improvement. But is it really sustainable when you hear about plummeting oil prices and weak retail sale? Regardless, let’s assume for a moment the Canadian economy goes on a tear (which I think is questionable) or at least shows continuous improvement over an extended period of time. In theory, this would suggest the Bank of Canada is going to increase interest rates to keep inflation in check, which “may” result in mortgage rates going up by .25% or maybe over time even .50%.