(PRWEB) October 26, 2012
Toronto, Ontario - Mortgage expert Marcus Arkan, CEO of Syndicate Mortgages, has recently shared the interest rate forecast for last two months of this quarter. Mr. Arkan used the figures and stats from the previous two months of this quarter in order to analyze future trends. According to Mr. Arkan, despite the stricter rules introduced earlier this year, the interest rate will continue to remain low throughout 2012 and well into 2013.
Similar predictions were also made in the latest survey report by Statistic Canada. The said report, which also plays a special role in Mr. Arkan’s analysis, points out the easing inflation pressure on the Canadian economy. It also reports that inflation rate for the month of September stayed at 1.2 % i.e. a two year low. Core inflation rate also remained at 1.3% i.e. considerably lower than what was predicted by the Bank of Canada.
Mr. Arkan also shared some current facts regarding the current economic conditions and their impact on interest rates. He said, “There seems to be an excess capacity in the economy. It will remain stable throughout the last quarter of 2012 and both short-term and long-term interest rates will remain at their current historic low position.”
According to Mr. Arkan, he is not the only one predicting a better economic environment. Mark Carney, Governor of Bank of Canada, has also shared similar views in the Monetary Policy Report. Mr. Carney stated that borrowing costs are not going to hike any time soon. Following this statement, the Bank of Canada also announced that its key interest rate will remain at 1% till the end of 2012.
However, Mr. Arkan suggests that borrowers must not overlook the warning issued by Mr. Carney during the same speech. “Mr. Carney is not wrong in pointing out the volatility that is still out there. While the Canada’s economy seems stable, the US and global economy still shows some signs of instability,”he advised.
About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062