The Bank of Canada’s key interest rate remains unchanged at 0.50%. The Bank of Canada is still anticipating a “substantial rebound” in the second half of this year as the economy gets a lift from federal spending, rebuilding from the Alberta wildfires and recovering oil production.
The current rate is expected to stay where it is well into 2017.
For those of you with variable rate mortgages your payments will remain unchanged. In the meantime, if there is anything that I can help you with, please let me know!