March 6, 2013
Bank of Canada overnight rate unchanged! What does this mean?
As expected, the Bank of Canada left its benchmark overnight rate unchanged at 1.00% and recognized the slack in the Canadian economy. The Bank noted however that it “expects growth in Canada to pick up through 2013, supported by modest growth in household spending combined with a recovery in exports and solid business investment.”
- What can I truly afford (not qualify for)?
- What are my payment preferences – flexible, predictable?
- How long do I anticipate living in this property?
- Do I want to have access to equity in the future
- Does my income vary allowing me to pay down my mortgage in a more accelerated fashion at different times in the year
About the Author
Farhaneh Haque is the Director of Mortgage Advice with TD Canada Trust, a leader in residential real estate mortgages and home equity lines of credit. With over 18 years of lending experience, she is entrusted with the responsibility of offering mortgage advice to help Canadians make informed decisions about home financing and ownership.
Farhaneh and her team draw upon research commissioned by TD Canada Trust, which reveals consumer attitudes and behavior related to home ownership such as choosing and buying a first home, renovating and greening a home, as well as understanding gender, regional and other demographic preferences. They also have access to proprietary research from TD Economics on topics such as Canadian interest rate forecasts and Canadian housing market insights
In her personal time, Farhaneh is an active member of community groups promoting youth education; in particular helping high school students in securing funding to pursue post secondary education.