BoC Breaking News.

By
Real Estate Agent with RE/MAX Condos Plus Corporation, Brokerage

BoC Breaking News.

 

The Bank of Canada made a surprise announcement today.

For the first time since September 2010 the BoC cut its overnight lending rate by a quarter of a percentage point to ¾ percent.

 

This in turn will affect mortgage rates

and probably the real estate market activity.

 

This cut for the first time in over four years comes about as a result of the economic risk being faced by the decline in oil prices. The sharp drop in oil prices is assumed to negatively impact growth and inflation in Canada.

Posted by

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Real Estate Agent serving clients for the Toronto Downtown and Toronto Waterfront Area.

Residential and Investment Properties.

Rosalind Nicholas, ACCA,SRS,REALTOR®

e-mail:   Rnicholas@trebnet.com     Tel: 416 918 1972

RE/MAX Condos Plus Corporation, Brokerage, Toronto, ON, Canada.

http://www.youtube.com/watch?v=PMuLzqLe72M&feature=youtu.be

 

 

Comments (2)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rosalind, hope the rate cut increases your business! 

Jan 23, 2015 12:10 AM
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Yes Joan, that's what we in real estate here, are hoping for ....... time will tell!

Jan 23, 2015 03:37 AM