Do you think financially illiterate Canadians have any idea what the BoC is, let alone listen to those remarks?
We closed on our first house purchase right around the time those remarks were made (and no, they had zero impact on our decision). At that time, we thought it was more likely than not that the value of our new home would fall, if not crash. The opposite happened...lucky us.
Rates are still fairly low. It looks likely they're gonna continue to rise, but it's hard to say exactly when they'll stop being 'low'.
If the weather forecast calls for 7 days of sun where I'm going for a holiday, it's still on me if I decide not to bring a sweater/rain jacket and end up regretting it.
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