Ultra-low interest rates are here to stay says mortgage lender

Interest rates are set to stay at “ultra-low” levels in Canada for some months yet, according to one mortgage lender.

Reacting to the recent monetary policy announcement from the Fed, Canadalend.com says that it believes the U.S. won’t raise interest rates until 2016.

Its president Bob Aggarwal says that will mean good news for those with a mortgage in Canada. "I expect that Canada's fixed and variable mortgage rates will stay at ultra-low levels for the foreseeable future,” he said.

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