This just in from The British Columbia Real Estate Association....
January 17, 2018
The Bank of Canada opted to raise the target for its overnight interest rate this morning 25 basis points to 1.25 per cent.
While today's rate increase was widely anticipated, it did come earlier in the year than previously expected and likely signals further rate increases to come in 2018.
Canadian mortgage rates have already moved higher in anticipation of Bank of Canada tightening, which means a much tighter borrowing environment in 2018, particularly given newly implemented mortgage qualifying rules for low-ratio buyers.
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