Since the news of a possible vaccine being released yesterday, stock markets saw a ton of activity. Many of those stocks in leisure and travel saw a rapid jump, while others that have been crucial to our economy throughout the pandemic, such as video-conferencing Zoom, took a hit. CBC has pointed out that historically, “For borrowers, good news is often bad”. Many homeowners have been taking advantage of the extremely low interest rates throughout the last few months. The interest rates were a result of the pandemic as an effort to keep our economy afloat. However, once the economy starts to recover from the pandemic, CBC suggests those next-to-nothing rates can’t continue forever. How long that will take will depend on more than just the success of the vaccine.
Read the full article here: https://www.cbc.ca/news/business/vaccine-markets-interest-rates-1.5795620