Bank of Canada expected to hold overnight target rate

Author: External Author | | Categories: Construction Mortgage , Home Mortgage , Licensed Mortgage Agent , Lowest mortgage rate , Mortgage Associate , Mortgage Broker , mortgage interest , mortgage preapproval , mortgage prequalifying , Mortgage Rates , Mortgage Refinancing , Mortgage Specialist , Rental Property Financing , Second Mortgage

The Bank of Canada will make its next target rate announcement on July 15, with most mortgage executives predicting no move in the rate.

“The Bank of Canada’s target for the overnight rate is currently at a historic low of 0.25 per cent. The bank has reiterated in their announcements that they are at their lower bound and will maintain this rate as long as required,” says James Laird, co-founder of Ratehub.ca and president of CanWise Financial mortgage brokerage.

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Original Article Source Credits: The chronicle herald , https://www.thechronicleherald.ca/

Article Written By : Myke Thomas

Original Article Posted on : Jun 19

Link to Original Article:  https://www.thechronicleherald.ca/lifestyles/homes/bank-of-canada-expected-to-hold-overnight-target-rate-464282/



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