Today the Bank of Canada annnounced that they are keeping their trend setting interest rate where it is. There was fear that they would increase the rate, which would have lead to higher borrowing costs.
For home owners, and prospective home owners, this is great news as we continue to enjoy extremely low mortgage rates.
It is inevitable that mortgage rates will eventually increase. If you are considering purchasing a home, or upgrading to a larger home, this may be a great time to take advantage of some of the most afforable mortgages ever.