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.”