Blog Article

Wednesday, 06 September 2023

By Leahs Mortgages

Leah Zlatkin quoted in the Toronto Sun: ‘Mixed reaction from mortgage brokers on Bank of Canada rate’

Mortgage broker and expert Leah Zlatkin thinks maintaining the rate does help “many variable mortgage holders who were worried and bracing for an increase.”

“This is good news,” said Zlatin. “We still don’t know what’s going to happen at the next BOC update on Oct. 25. We’ve got two CPI (Consumer Price Index or the inflation number) readings before then which are going to be Sept. 19 and Oct. 17 and because oil is still uptrending, this is usually linked to inflation, there’s a risk of a very strong CPI reading which means inflation may be continuing on an upward trend. If inflationary pressure remains as it is, the Bank of Canada does remain concerned. So we could see a hike on Oct. 25.”