Enjoy the decline, Canada:
Statistics Canada yesterday said it will update its benchmark Consumer Price Index to reflect pandemic prices. The agency yesterday doubled its official inflation rate to 2.2 percent nationwide: “We are planning another basket update this summer to better reflect changes.”
What else will affect the prices?
This:
Prime Minister Justin Trudeau is promising Canada will slash its greenhouse gas emissions by 40 to 45 per cent within the next decade.
James Laird, co-founder of Ratehub.ca and president of CanWise Financial mortgage brokerage, said if Canada’s recovery proves even stronger, it is possible the bank could move up its timeline further and Canadians should brace for higher mortgage rates sooner than expected.
“Now is a good time for anyone currently holding a variable rate to consider locking into a fixed rate,” he said, as the positive outlook also means fixed rates should continue to rise through this year.
“Anyone shopping for a home should get a pre-approval which will hold today’s rates for up to 120 days and allow them to move quickly in the competitive spring market,” Laird said.
No comments:
Post a Comment