Market Update

60% of market watchers are currently speculating that they expect to see interest rates rising this month.

Why do they think this?

April reports showed that the GDP increased 0.2% which is the 6th month in a row that it is on the rise. April also showed 14 of 20 sectors on the rise. We have seen a slow down in the housing market in quarter two and inflation is still a concern as it is below the 2% target and still falling.

When will we know?

The bank of Canada evaluates it's set rates 8 times per year, the next meeting for them is July 12th.

What if I am shopping for a home?

Then come see us and get a rate hold, these holds are good for 120 days so if you purchase within that time frame and rates go up then you are protected.

reference:

https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-08-09-0816.cfm

https://www.firstnational.ca/commercial/resources-insights/market-commentary