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Bank of Canada rate stays 5%, but real estate market moving
The Bank of Canada, wary of lowering rates too soon, has kept the overnight interest rate at 5%. But some realtors say commercial banks are offering mortgages at close to that rate – suggesting they may expect a rate drop soon.
Harry Miller is a writer and editor based in Toronto who has Ten years of experience in the journalism industry. Before coming to Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and a breaking news reporter with the Toronto Star. Miller currently holds two bachelor’s degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.
