Several economic indicators unveiled last week continue to demonstrate our economy is not experiencing the rebound that was expected....Jobless data revealed last week surprised the market....being quite a bit weaker than the forecast.
Earlier in the week, Bank of Canada Governor, Mark Carney provided an update and outlook from his perspective, leaving many economists confident that we will not see the Central Bank Rate rise until some time next year. The rate continues to hold steady at 1% with Prime at 3%. In light of data released on Friday, some economists are optimistically predicting a decrease in this key benchmark rate before the end of this year.
Could this be the norm moving forward???
On the mortgage side, rates remain LOW.... 5 year fixed mortgages at 3.59%.....Variable closed is at 2.35%
Whether you are buying or selling a home or just curious about the market this is the place to find information regarding the Real Estate Market in Durham Region.
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