The Bank of Canada again reiterated their desire to keep the Bank Rate at a very low level until June 2010. Some economists are specualting that it may remain low into the 4th quarter of 2010.
This could mean that interest rates might remain low for some time (at least through 2010). The record low interest rates are one of the main reasons behind the red hot real estate market. Just this weekend, Culture Realty Solutions Inc customers sold two homes (one in Mississauga and one in Vaughan) and represented one buyer. We also listed another home yesterday!
The journal of commerce reports that lower interest rates spur housing sector recovery.
Culture Realty Solutions Inc.
Real Estate Brokerage
1-877-277-0190
Wednesday, December 9, 2009
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