Economic growth in Canada slowed sharply to end 2019 and supply chain disruptions due to both Coronavirus and interrupted rail service are expected to slow growth further in the first quarter of this year.
Canadian bond yields have declined significantly with 5-year bond yields falling below 1% for the first time since 2017. Both variable and 5-year fixed qualifying mortgage rates will likely follow bond yields lower, though elevated risk spreads may delay banks and other lenders in lowering mortgage rates in the immediate term.
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