US Economic Woes Good News for Local Housing Market?

Economic troubles south of the border could help out the housing market in Kenora.

Lakehead University Economics Professor Livio Di Matteo says the turmoil will likely mean interest rates will stay low which will make it easier for people to get a mortgage.

Di Matteo says the Federal Reserce Bank vowing to keep interest rates low will likely cause the Bank of Canada to do the same or even lower its rate.