The Bank of Canada Held it’s lending rate today holding Prime at 2.25%. The employment numbers look great for November but they will need to see a trend first before reading to much into it. Economists think that they will not repeat the 2 premature rate hikes in 1992 and 2002 with an early increase mid next year.
Either way it looks like the rate will not be increasing until next summer or later.
Please contact me if you have an questions about purchasing or refinancing.