Today or tomorrow, Canadian banks are expected to announce changes to mortgage interest rates.
This comes after the Bank of Canada lowered its interest rate to the banks by 0.5 per cent. It’s unknown if the banks will pass the entire half-per-cent cut to consumers.
Given that banks are competitive, and given that this is the eve of the spring real estate season, analysts are speculating that at least most banks will cut mortgage rates by the full 0.5 per cent.
How will that affect the market?
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