Rates Held! No rate increase Dec. 6

Category: Education and Learning, Home Purchase,

Good Morning Amazing Partners,

Great news! No rate increase. 

Although, this was suspected and expected.

Bottom line: Overall inflationary risks have continued to recede in Canada after dominating the economic landscape for the past two years, and the risks are gradually becoming more equally weighted with downside growth risks (we’re expecting the economy to shrink).

Currently softer trends in consumer spending and labour market data are still consistent with a “mild” economic downturn, and are expected to be extended into early 2024 alongside more easing in inflation pressures.

Still, the BoC will be cautioning against rate cuts too quickly. Most economists think that rates will hold until the 2nd half of next year.

However, the “market” is assuming rate cuts in the FIRST HALF of next year, making our bond market and fixed rates to decrease. This has inflationary pressure (lower rates) so the “market” may cause a longer term higher-than-expected variable rate.

DLC’s Chief Economist, Dr. Sherry Cooper, will be presenting on the rate (non)change today at 11:30AM.

You can watch it live here or click the image below.

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Category: Education and Learning,First Time Buyer,Home Purchase,

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