Another Interest hike... oh its on the way!!

Dated: May 27 2022

Views: 75

So after 22 years of no severe or significant increase in the interest rates, the BoC increased the rates in April and slapped the market with a half-point increase, which sent a shockwave through the markets and jolted everyone. Fast-forward now to June 1, 2022, which is fast approaching, and it seems the people at the BoC gearing up to increase it again another half-point.

The BoC Governor Tiff Macklem has said that interest rates may need to go above the neutral range for a period of time to get inflation back to target. 

No realtors have seen this sort of market, it will be interesting to see where things will land themselves after June 1, 2022. Will they in fact increase it a half-point or come under pressure and do a partial increase... As the rate increase did slam the brakes on the bidding frenzy that was occurring! 

Anyways I will leave this here until June 1 when we all hear the news! 

-SB

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Shawn Bhatt

Hi, and thank you for stopping by! I have been serving the community for over ten years now, and it has been an absolute pleasure in doing so! I am dedicated to bringing you the best homes for sale an....

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