Could Interest Rates Be Staying Low for Another Year and a Half?
According to a recent article in Mortgagebrokernews.ca economists are forecasting just that. This is good news for borrowers not so sure about the economy although another article I read forecasts the technical recession we just went through won't last.
"A poll of 40 economists by Reuters reveals that the financial experts are not forecasting any rise in interest rates until 2017. The economists believe that although there is a chance of a further reduction in rates by the Bank of Canada that is also unlikely if the economy is picking up from the technical recession. The growth in the second half of 2015 is by no means agreed on by those polled though. There are of course many unknowns, not least oil prices, which may mean a change to BoC policy along the way."
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