The week’s best fixed and variable mortgage rates
The Bank of Canada maintained its benchmark interest rate at 2.25 percent, citing conflicting economic pressures including potential inflation from rising oil prices and risks from upcoming USMCA trade renegotiations. While some market indicators suggest two rate hikes by year-end, economists expect any sustained increases to be delayed until 2027. Variable mortgage rates remain uncertain, with the possibility of both increases and decreases in the near term.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe Bank of Canada held its headline interest rate at 2.25 per cent this week, but made it clear that the central bank is being pulled in two different directions for future decisions.On one hand, Governor Tiff Macklem said the bank is watching closely if rising oil prices will lead to widespread price increases for goods and services. There isn’t evidence of this yet, but such inflation could prompt a rate hike.Meanwhile, renegotiations for the USMCA trade deal are set to begin this summer, and Mr. Macklem has said there are concerns that Canada faces turbulence as it aims to preserve the existing trade agreement.He said the central bank will need to cut rates to support the Canadian economy if the U.S.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
