“I don’t expect it to have a huge impact on Saskatchewan’s economy,” said Jason Childs, an associate professor of economics at the University of Regina. “We’re still going to be driven largely by commodities, and services are going to still play a big role. I don’t see that quarter-point change really making or breaking either of those industries.”“It will continue to slow down housing and soften the demand for housing,” Childs said.
“With a variable rate mortgage, you’re carrying all the risk,” he said. “If interest rates go up, you’re going to get hit with that right away. If interest rates go down, well, you benefit, right? You’re going to pay less.… Ultimately, when you get down to it, you’re going to pay for it sooner or later. It’s just a matter of how much and when.”
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