Wednesday, October 24, 2018

Monetary Policy & Mortgage Rate Forecast

The Bank of Canada raised its target for the overnight rate by 25 basis points to 1.75 per cent this morning. With this decision, the Bank noted that the overnight rate will need to rise to a neutral stance to achieve its 2 per cent inflation target.
The Bank of Canada is determined to finally “normalize” it's monetary policy after nearly a decade of low interest rates with the goal of returning the overnight rate to its estimated equilibrium or “neutral” level of between 3 and 3.5 per cent. Policymakers have even discussed dropping their gradual approach, replacing the standard 25 basis point increment rate increases with more accelerated interest rate increases.
The Bank will meet again in December and we expect policymakers will maintain the current overnight rate at this meeting before raising it to 2 per cent in January 2019. As the Bank continues to tighten monetary policy, Canadian mortgage rates are expected to rise, resulting in a 6 per cent qualifying rate by the end of 2019.

Thursday, October 18, 2018

7 - 9400 122 Street, Surrey BC - Queen Mary Park

7 - 9400 122 Street, Surrey BC - Queen Mary Park

Bedrooms: 2     Bathrooms: 2     Year Built: 1974     Home Size: 1150 sq.ft

Attention Investors, Buyers, First Time Buyers & Young Families, welcome to this 2 Bedroom, 1.5 Bathroom Townhouse located in desirable Bonnydoon Village, a family community. This 2 level home features a powder room on the main floor, very spacious floor plan, fully fenced private patio and in-suite laundry. The complex has an outside pool, sauna, mature trees and green space. Proactive strata with low monthly fees in great central location, steps to Moffat Park with a playground and sports fields, all major transit, shopping & schools. Call now for you’re private showing!