Rate Hikes Delayed as Bank of Canada Cuts Economic Forecast

Once again the Bank of Canada has left it's key lending interest rate the same at 1%. This is old news, really, at this point. The bigger story is their cut in Canada's Economic Forecast. They've cut 2013's forecast to just 2% now. Along with this they stated that they will likely delay any rate hikes; possibly until 2014. Last forecast had rates rising in the 3rd or 4th quarter of this year. This is not good news for the economy but is great news for borrowers as it will keep affordability good for financing a home.

Here's the link for the full article in the Globeinvestor section of the Globe n'Mail:


*indicates required fields.

Meet the team

  • Will Pratt
  • Justin Sabbagh
  • Mike Wilcox

Mortgage Calculator

Purchase Amount:
Down Payment:
Interest Rate:
Payment Interval:
Mortgage Term (Years)
Total Payments:
Total Amount Paid:
Total Interest Paid:


The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.