Don’t forget, the Bankof Canada meets tomorrow, April 22nd, 2008. The Bank is expected to cut interest rates by another 50 basis points (0.5%) to generate some stimulus in the weakening economy. This is of course great news for anyone on floating rate mortgages and buyers of real estate. With MLS listings at numbers we haven’t seen in years, buyers have more choice than ever when looking for that perfect place.
Be sure to check back tomorrow to see my post about the rate change meeting and my commentary.