What’s next for the Bank of Canada, and why mortgage holders are still holding on: This week’s top real estate stories
Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.
The Bank of Canada holds off on interest-rate hikes, but the door remains open
The Bank of Canada held its benchmark interest rate at 4.5 per cent this week, pausing its year-long campaign to increase borrowing costs. The widely anticipated decision makes the Bank of Canada the first major central bank to halt monetary-policy tightening and puts it on a different trajectory than the U.S. Federal Reserve, whose officials have said they expect to increase interest rates several more times.
This sounds like good news for borrowers, but central bank officials say they need more evidence that the economy is cooling and inflation is slowing before ruling out further interest-rate hikes, reports