The Bank of Canada is set to make a rate announcement on June 5 TD Economics predicts that the central bank will announce it is holding its overnight lending rate at 5%, but could signal that a rate cut is coming soon For homeowners with a variable rate mortgage, a rate hold won’t have an immediate impact on costs But if the central bank suggests a rate cut is forthcoming, fixed rate mortgages could come down in price – even before a rate cut happens
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