25th Oct, 2012

Some stability & comfort despite debt load

D. W. Howard Realty offers free, confidential advice on the best time to put your Niagara, Fort Erie, Ridgeway, Crystal Beach ON Canada house on the market so you net the most money. Also, now may be the time for you to jump in and buy – or wait to buy – please contact us today for insights on your unique situation.

The Bank of Canada is opting not to tinker with interest rates for the 25th consecutive month. The bank announced it was maintaining its benchmark overnight rate at 1%, The bank is also not expected to touch interest rates until well into next year.

Last week, Statistics Canada reported household debt was even higher than thought – sitting at 163.4% of average income. The Bank of Canada predicts that household debt — a combination of mortgages and consumer credit — is expected to rise over the next year before stabilizing.Household debt, even though it’s only rising slowly, will become a larger factor in determining monetary policy,

Even the Bank of Canada says despite the recession in Europe and other global negative indicators, the economy “is expected to pick up and return to full capacity by the end of 2013.”  It forecasts growth of 2.2% this year, 2.3% next year and 2.4% in 2014.

Not sure whether to rent or buy? Calculate the difference  to help you make a smart decision.

Contact D. W. Howard Realty today for up-to-the-minute real estate news, and how it affects your purchase or sale of Niagara Falls ON real estate, Ontario waterfront property, Fort Erie homes, Ridgeway homes, or Crystal Beach homes.

 

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