Thursday, 22 January 2015
Who Are the Winners Following the BOC Surprise Rate Cut?
The Globe And Mail Reports:
"The most commonly cited catalyst for a correction in Canadian home values has been the possibility of rising interest rates, and the pressure that would put on the finances of marginal borrowers. Higher borrowing rates can reduce housing demand and put downward pressure on prices. The rate cut, which supports the continuation of ultra-low mortgage rates, at least pushes the likelihood of a large group of overextended borrowers running into trouble further out into the future."
This is good news for the Real Estate Market in the Thompson Okanagan. Call The Right Agents today!