Have you noticed how everything is starting to cost more? A trip to the grocery store, service station or mall is taking a bigger chunk out of our wallets. These past few years we experienced historically low interest rates. With these on the rise, and now coupled with recent inflation rates above market expectations, the amazing buying opportunities will start to disappear. The affordable home prices that you see now have created an incredible opportunity to buy. How incredible? Let’s just say we may never see this kind of buying power again in our lifetimes. Even if house prices don’t move up, interest rates will. And does anyone out there really believe that house prices won’t go up? New home prices are already moving up. So to all those still on the fence – the combination of great prices and low interest rates are coming to an end. Time to jump in!
“Inflationary pressure has begun to enter Canada and this will significantly change the market’s expectation of what the Bank of Canada will do in terms of interest rates”
Camilla Sutton – Chief Currency Strategist at Scotia Capital