Another Increase in Lending Rates Expected on July 2010
The Bank of Canada is expected to raise its lending rate by another quarter of a percentage point any moment. That would bring the lending rate to 0.75 per cent.
Increases in the lending rates affect lines of credit rates, variable-rate mortgages and other loans.
These increases will most likely influence the demand of Barrie Real Estate, as buying a home in Barrie may become more expensive for some home buyers.
If that increase in rates happens, it would be the second raise by the bank in 2010.
For more information regarding the Barrie Real Estate Market please call Peter Clarke, Broker of Record at ELITE ACCESS REALTY INC., Barrie Real Estate Brokerage or visit our Barrie Real Estate website www.BarrieProperties.com.