BC Interest Rates Predicted to Rise in 2011

A new report from our friends at the British Columbia Real Estate Association predicts that interest rates will rise in the next year from 3.3% on a one-year term to 4.4%, and from 5.35% to 5.9% on a five-year term.

Among the factors cited were an increase in bond yields after the USA Fed’s announcement of Quantitative Easing #2, and slowing Canadian economic growth including exports to the USA.