Here are the key highlights from the quarterly forecast:
-We continue to see the impact of lower oil prices play out in the Canadian economy. Lower gas prices expected to save Canadians households up to $800 in 2015
-$600 of that will be absorbed by the higher cost of imported consumer goods
-unemployment rate could reach 7% by the end of this year
-BOC expected to hold rates until the end of 2016- this will continue to drive a strong housing market!
-crude oil could hit a new low of $40US a barrel before landing in around $65US on average in 2016
-core inflations expected to be just shy of BOC's 2% target through 2015 and into 2016
Click on the link below to read the full TD Quarterly Forecast:
To learn more about local real estate market conditions in Whitby, Brooklin, Ajax, Pickering, Oshawa, Courtice and Bowmanville, please contact me.
Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby