12/06/2023
The Bank of Canada has decided not to change interest rates this time. They're staying put at 5.00%.
Even though our economy isn't growing fast, the Bank is still watching out for inflation. They're ready to bump up rates if they need to to keep things balanced.
The focus now? They want to see inflation calming down more consistently.
So, what does this mean for you?
If you have a variable-rate mortgage, your rate won't change because of this announcement.
Mark your calendars! The next update from the Bank of Canada is on January 24, 2024.
How do the ups and downs in rates over the past year affect you? Talk with a TMG Mortgage Broker/Agent to help you navigate your options and find the best path for your mortgage needs.