June 2011

Found 1 blog entry for June 2011.

rates_283As reported by the Canadian Press, home buyers and sellers should gear up for mortgage rate hikes sooner instead of later.

That’s because, while the Bank of Canada this week declined to change its current 1% overnight rate (which banks use to formulate their mortgage and other lending rates), it announced in a statement that the economic recovery, if it continues, will inevitably lead to hikes in the near future. 

"To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed,” the Bank of Canada noted in its statement, “some of the considerable monetary policy stimulus currently in place will be eventually withdrawn."

For those who have been closely following the Bank of Canada’s actions

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Patti & Chris are two of the most genuine and hardworking people I know. Their knowledge of Edmonton real estate and neighbourhoods makes them a valuable asset whether buying or selling home- and they are at the top of my list when I am asked for a realtor referral. Patti's knowledge of central Edmonton is second to none, and Chris is an absolute expert in infills. Together they are an amazing team and I always enjoy working with them.

- Cheryl Jutte

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