How the Canadian Economy Could Affect Your Mortgage

The Canadian economy is slipping. In fact, we may see our first quarterly economic contraction since the second quarter of 2011. But before you stock up on canned beans, this isn’t all bad. It could mean that lower variable rates are on the horizon. It won’t happen immediately, but we doubt this is the lowest our variable rate mortgages will go (as long our Banks share the coming overnight rate discount with us.)