In an interview with the Globe and Mail
she said that, in line with the bank’s policy reiterated last month, “the housing market and household debt are going to evolve in a constructive way.”
Wilkins pointed to the improving Canadian economy, which she says continues to support the hot housing markets of Toronto and Vancouver, and will see household debt levels, including mortgages, begin to moderate.
The deputy governor said that it is likely to be mid-2017 before Canada’s output would reach full capacity; this should mean that interest rate rises are unlikely during 2016.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Janeville, Masset, Brazil Lake, Great Falls, Saint-Gabriel-de-Brandon
The Bank of Canada’s deputy governor Carolyn Wilkins believes the housing market and Canadians’ debt levels are still manageable.