The economy slowed in the third quarter of 2012, effected by the sluggish US economy and a slowdown globally. Our exports fell by 2% during the last quarter which was the largest decline since the Wall Street Crash.
Likewise, Canadian exports are expected to be sluggish during 2014. The forecast for growth in Canada is 2% for 2013 and accelarating in 2014.
Monetary stimulus in Canada - the Bank of Canada notes that a withdrawal of monetary stimulus will be contingent on a stable global economy, as well as the state of household debt burdens. Probably a good time to lock in a 5 year term which is still 2.99%.
Mortgage rates dropped in the third quarter of 2012 and they're expected to remain flat until the end of 2013 or into 2014, according to the BCREA forecast, which sees Bank of Canada remaining on the sidelines.
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