Its effect on Canada’s housing market remains to be seen. Last week, Bank of Montreal (BMO) chief economist Doug Porter (pictured top) told Canadian Mortgage Professional that the Bank of Canada would likely slash interest rates further if US tariffs began to weigh down heavily on the Canadian economy, meaning potential borrowing costs could end up even lower than first anticipated for the year ahead.
“What I would be worried about is if the Canadian economy were really wounded badly by a trade war, then that could actually work its way back into the housing market and clip demand as well. The threat to the housing market would be the indirect effect of a weaker economy.”
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