The Bank of Canada has increased its key overnight lending rate by 0.25%, signaling a possible end to a period of record low interest rates in Canada. While no concrete evidence to suggest with certainty that the BoC will continue to raise interest rates each quarter, it appears that the Central Bank is confident in the Canadian economy's ability to absorb these increases --which is great news for everyone. While higher interest rates may not be welcome, the accompanying increase in economic activity and job creation are great signs of things to come. Were the BoC afraid that the economy was still too weak to carry an increase, it is likely that we would not have seen this move.
For more information regarding mortgage interest rates, or to get pre-qualified, please call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.
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Great news for home mortgage! Pittsburgh is expecting the same change too. I'm glad for the both of us. Pittsburgh mortgage lenders and us, consumers and buyers, will have equal opportunities. Win-win, if I may say. And great blog, I forcefully add.
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