How the Management of Inflation Affects Mortgage Rates & the Potential Good News
The Bank of Canada started using interest rates as a way to keep inflation between 1 and 3% for almost two decades. According to an article from Canadian Mortgage Trends in July of this year we may be in for a long period of low rates. The management of inflation plus the fact that we are a mature low growth economy are the two main reasons. The article takes a look back to see when interest rates rose but more importantly how long before they started to come down again.
Below is the full article:
Tony Marchigiano1-155 Water Street
Mortgage BrokerVancouver, BC
cell: 604 505 7109
fax: 604 909 4666
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