Inflation and Interest Rates
Posted by Corey Sylvester on
Canadian interest rates increased January 25th 2023, and what It means for you
Its official - the Bank of Canada has raised interest rates again. While this doesn't come as a huge surprise to those of us who have been paying attention to the economy, it's still worth discussing what this means for home buyers, sellers, and investors in Canada. For starters, it's important to note that only variable mortgage rates will be affected by this change. Fixed mortgage rates remain unchanged at this time, and in some instances have started to come down as well. The BoC has also indicated that they plan to pause any future increases which is a good indication we may have seen the last increase before they eventually subside. So, if you're shopping for a new home…
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