For anyone who is curious about where experts expect interest rates to be headed in the next while, the forecast is sunny skies: rates are not expected to rise.
Essentially, the Bank of Canada doesnt expect that it will need to raise interest rates in the near future because of the strong Canadian dollar, the weak
The possibility that interest rates wont increase bodes well for those looking to purchase a home or renew their current mortgage, as well as current mortgage holders that have variable or adjustable rate mortgages. Things could look even better for home buyers and owners if the central bank drops interest rates (provided
If you would like to read more about the outlook for interest rates, please visit the two articles on Canada.com titled Bank of Canada will hold rates through 2009 and Bank of Canada signals rate hold.