“Interest rates in Canada will remain stable in the near-term,” says CIBC’s Senior Economist Benjamin Tal, “with a real possibility of a rate cut in the coming months.”
Tal goes on to suggest that “being on the sideline (say by taking a variable rate mortgage) for the next few months is not a bad idea.”
He says, “The likelihood that both the prime rate and bond yields will rise during that period is low, and there is a real likelihood that they might be somewhat lower, either via a Bank of Canada rate cut or some easing in spreads.”
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