Bank of Canada Holds Interest Rate

Economic Update

By Shannon Mayhew from Invis

The Bank of Canada announced today that it is keeping its key rate unchanged, making Canada an outlier as many countries around the world have responded to a weakening global economy by lowering rates. The Bank noted that Canada’s economy has held up well but will be tested as trade conflicts and uncertainty persist. Going forward the Bank will be closely watching our main sources of strength which are consumer spending and housing.

The next rate-setting day is Wednesday, December 4th.  

Be sure to get in touch if you have questions about your mortgage strategy. It’s important to get advice and a personal assessment of your situation if you need a new mortgage, are renewing, looking to refinance for debt consolidation, renovations or other large expenditures. Good advice saves time, money, and stress!

Invis regularly receive short-term rate promotions that are not posted online, which means their rates change frequently. Please contact Shannon Mayhew for these unpublished rate specials.

Insured mortgage rates, subject to change. Conventional and refinance rates may be higher.
Some rates may not be available in all provinces. Consult a local Invis professional for more information. OAC. E&EO