40 leading economists suggested there would be no change to the rate today, according to BNN. Analysts forecast the chance of a hike at 55%, but not until 2017.
Many analysts are predicting an eventual rate hike in the next year-and-a-half, but one mortgage broker who closely follows the market believes the rate will be cut once more before that.
“I think there will be a rate cut in the next six months; I don’t see the economy improving enough in that time to warrant a hike,” Dustan Woodhouse, a Vancouver-based broker with Dominion Lending Centres, said. “The precedent has already been set for a ¼ point drop and I think it will go down before it goes up.”
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:
Sylvan Lake, Silver Falls, Batiscan, Heart's Content, North Preston
This latest rate decision aligns with a number of economist predictions.