Well just got the news…the bank of canada has announced that the overnight lending rate will remain the same. They have stated based on the outlook the council figures that the current stance of the monetary policy is just about right.
The bank of canada points out they will be guided by a mass amount of incoming information to analyse the situation with the economy regarding interest rates and the overall economic capacity.
So why then if there is issues to watch out for has it made it tougher to qualify with the recent stress test…not just on high ratio but now conventional mortgages. This is getting silly.
Check out the full report here: Bank of Canada Report
Like I say ; Be prepared….Be informed.