Queen's University

Bank of Canada interest rate announcement: Queen's University expert

2012-12-10

Queen’s University real estate expert John Andrew is available to talk about the Bank of Canada interest rate announcement on Tuesday.

Dr. Andrew (the director of the Queen’s Real Estate Roundtable) can comment on the impact an interest rate hike would have on Canadian home owners.

“While there is some consensus among economists that the Bank of Canada is unlikely to change its benchmark interest rate on Tuesday, the real estate industry and many homeowners will be paying close attention to this announcement. Given high personal debt levels and early signs that home prices are finally leveling off in many Canadian cities, even the smallest increase in the interest rate that has held steady for several years could have a significant catalyst effect triggering a drop in home prices,” says Dr. Andrew, a professor in the School of Urban and Regional Planning and School of Business.

To arrange an interview, please contact communication officers Michael Onesi (office: 613.533.6000 ext. 77513, michael.onesi@queensu.ca) or Anne Craig (office: 613-533-2877, Anne.Craig@queensu.ca) at Queen’s University News and Media Services Department in Kingston, Ont., Canada.

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