How the Bank of Canada’s interest cut will affect mortgage rates

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This article is called how the Bank of Canada’s interest cut will affect mortgage rates. It was posted by The Canadian Press and appeared on the Maclean’s website. It was published on January 21, 2015. This article discusses about Bank of Canada’s surprise move on Wednesday  to cut its 1 per cent interest rate to 0.75 per cent in variable, floating and mortgage rates. Mortgage rates were supposed to increase later this year because of an improving economy but due to the low price of oil it has not. This can benefit both the consumer and businesses all of over Canada.
 
Reference:
Press, T. C. (2015). How the Bank of Canada’s interest cut will affect mortgage rates. Retrieved from Maclean's: http://www.macleans.ca/economy/realestateeconomy/how-the-bank-of-canadas-interest-cut-will-affect-mortgage-rates/
 
 

 

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