February 01 2022
With 2021 coming to a close, the Bank of Canada has also confirmed its decision to keep its inflation target at 2% with the potential for rates to stay lower for a bit longer. While this renewed mandate highlights a new emphasis on employment, it leaves out new thinking on the Canadian housing market. For the latest in mortgage news, read more about what happened over this past month.
Canada has seen a surge of home buyers looking to lock in low rates on the basis that a higher cost of borrowing means higher payments. However, according to Transunion, mortgage payment data against mortgage rates shows the opposite.
The Bank of Canada recently announced its renewed mandate with an inflation target of 2%, as it’s done since 1991. While this new mandate included a new emphasis on employment, it does introduce new thinking on the Canadian housing market,
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