Bank of Canada Updates Overnight Rate Forecast | October 2013

So the big mortgage news of the day is that for the first time in more than a year, policymakers have dropped any reference to interest rates eventually rising. This is a pretty big deal!

"In Canada, uncertain global and domestic economic conditions are delaying the pickup in exports and business investment" Bank of Canada Monetary Policy Report

Here is a video outlining some of my thoughts on the recent announcement.

Bank of Canada Reference Materials

Here are some of the National News outlets and how they have covered the recent announcement made by the Bank of Canada.

Bank of Canada Monetary Policy Report

Taken from the Monetary Policy Report, on household debt and consumer spending:

"While consumer spending remains solid, slower growth of household credit and higher mortgage interest rates point to a gradual unwinding of household imbalances.”

Check out our complete list of Motrgage News for October Here >>

Bank of Canada Monetray Policy Report October 2013