Today's central bank announcement

Author: Melissa Henderson | | Categories: Consolidation Loans , First Time Home Buyers Mortgage , Home Mortgage Purchase , Mortgage Agent , Mortgage Broker , Mortgage Purchase Rates , Mortgage Renewal , Real Estate Mortgage , Renovation Loans , Repeat Purchase Mortgage , Second Mortgages

Blog by Melissa Henderson - Mortgage Agent

At 10 am eastern, the Bank of Canada made its first interest rate decision of 2021 and presented its newest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.

Contrary to some speculation, the Bank did not make a “micro-cut” to its overnight rate, which is holding steady at 0.25%. Even so, borrowing costs for your clients remain extraordinarily low and provide a great incentive for home purchases to start the year.

We capture the highlights of the Bank’s observations on growth/inflation projections here

First National stands ready to make 2021 another year of mutual growth and achievement. We look forward to continuing to demonstrate our commitment to be our best for you, so you can be your best for your clients

Scott McKenzie's signature

Scott McKenzie
Senior Vice President, Residential Mortgages