According to Mark Carney Governor of the Bank of Canada, there is no reason to increase rates just yet. The US deficit is still extremely high and  Inflation is holding at 3.3%.  The article is very informative so I have included the link for you.  Mark Carney Speaks.

So while we’re all struggling with higher food and fuel prices, it appears Mortgage rates will remain steady at least till the Fall. That’s good news!  See My Video.

TREB reports 4774 sales for the first half of May 2011, down 2% from 4887 in 2010.

Strong sales are a result of a positive economic outlook for the GTA with jobs increasing and earning growing.  Home prices increased as much as 8% this month                           over 2010 prices.

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Elfie Hayes

Lowrate.ca

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