Well its good to be back and have 2011 behind us. What a year. As foreign debt crisis concerns monopolized the financial talks Canada and its housing market did exceptionally well.
Canada’s housing boom is among the most long-lived in the Western world at 13 years, the average house increase in value by 85 per cent since 1998!
Low interest rates, without an end in sight, brought many into the housing market and also made others upgrade homes.
Looking into 2012 the world will continue to watch the European Debt Crisis and also the state of the economy in the United States.
The Bank of Canada has their meeting schedule in place, meeting are as follows…
- January 17, 2012
- March 8, 2012
- April 17, 2012
- June 5, 2012
- July 17, 2012
- September 5, 2012
- October 23, 2012
- December 4, 2012
Economists are not expecting any changes to the Bank of Canada rate into 2013–good for those in discounted Variable Mortgages. We will have to see how 2012 plays out.
Keep checking back often as we continue to comment on the mortgage market in 2012!