Why The BOC Didn’t Raise Rates Yesterday

Posted by Michael Campbell

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The Bank of Canada decided not to raise interest rates yesterday. One of the main reasons is they want to see the market’s reaction to the new mortgage rules which includes a stress test. The stress test coming this January 1st determines whether you can pay a mortgage that is 2% higher than the current posted interest rate. But don’t be fooled…..

….related from Mike and Ozzie Jurock: Uh Oh – Government’s Manipulated Real Estate Market

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