Borrowing Rates are down is it a good news?

The major Canadian banks responded to the Governement abbouncement recently to cut their bench mark rate by 0.5% and reduced their prime lending rate by 0.15% to 2.70%

 

Most analysts are uncertain that this move will make most Canadians to decide to become first-time buyers, Interest has been low for a while, and the concern is that most people getting acustomed to low  borrowings. That can also create a certain danger in the heated market as it is. 

 

These low rates, can create a major inflationary pressure, and then it will become a "rollercoster" with interest rate rising, trying to curb the inflation, and that can become quite a serious situation for a lot of families.  

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.