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Time To Lock In A Rate? Interest Rates to Rise May 2015!!
 
According to the OECD (Organization for Economic Co-Operation & Development) interest rates will start rising a full 6 months before current forecasts by leading economists. There are several reasons for this including the fact that Canada's inflation rate has been running a little above their target of 2% lately. This coupled with the fact that the American economy is doing better & better may indeed start pushing rates up earlier than last forecast.
 
In my opinion it would be a very good time to get a rate hold put in place now! I can hold rates for renewals, purchases, pre approvals and refinances for up to 120 days or 4 months.
 
Here's the full article if interested:
 
"Interest rates in Canada will increase in May 2015 and rise steadily thereafter. That's the forecast of the Organization for Economic Co-operation and Development which would mean rises 6 months before most economists are predicting. It's based on concerns over inflation, which is currently running above the Bank of Canada's 2 per cent target. OECD says that the central bank's policy of holding back due to slack in some areas of the economy will have to be scaled back with rate rises as the slack recedes. While any initial rise may be small some experts are expecting a greater demand for fixed-rate mortgages in the coming months."
 
Tony Marchigiano 1-155 Water Street
Mortgage Broker Vancouver, BC

cell: 604 505 7109
fax: 604 909 4666

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