18 June 2014
As you know, the Fed’s benchmark rate has been near zero since December 2008 already.
In Canada, we have overnight rate sitting at 1% since Sep 2010. Most economists expect Bank of Canada to keep it on this level till late 2015. This Wednesday Canada’s main stock index went up to the highest level for the previous 6 years after the Federal Reserve announced its plans on raising interest rates.
Canadian mortgage rates are extremely low today and we expect active summer real estate market.