Market update - Jan 2020

Michelle Feng

January 20, 2020

I wish everyone a healthy and prosperous year ahead. On the economic front there is positive news regarding Canadian economy to kick of the new year. The reduced trade tension globally is helping but the expansive wild fires in Australia and tensions between Iran and USA are concerns.

Recent analysis by experts suggest that Bank of Canada is not going to cut its short term rate any time soon due to the resilient Canadian economy outperforming last years numbers. As a result, most of our fixed term rates are currently sitting 0.1% - 0.25% higher than two months ago.

Many Real Estate experts are predicting that values are stabilizing after the downturn we have seen in the past two years and are expecting a modest increase in values this year with accelerated growth in 2001.

With most mortgage rates still close to historic lows we are starting to see more buyers taking this opportunity to enter the market. If this is something you are considering, feel free to contact us and we can figure out a financing strategy that works for you.