HawthorneVillager.com

Hawthorne Village (Milton) Discussion Board
It is currently Thu Mar 28, 2024 10:19 am

All times are UTC - 5 hours




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Bank of Canada Rate
PostPosted: Wed Jul 16, 2014 3:06 pm 
Offline

Joined: Mon Mar 23, 2009 9:06 pm
Posts: 158
No Change to the Bank of Canada Rate!

As expected, the Bank of Canada announced today that it is keeping the benchmark rate unchanged. Great news if you’ve got a variable-rate mortgage; the prime rate stays at 3%.

The announcement noted that “given the downgrade to the global outlook, economic activity in Canada is now projected to be a little weaker than previously forecast” and that “the risks associated with household imbalances, while evolving in a constructive way, are still elevated.” With these considerations, the Bank is maintaining its monetary policy stimulus, and is neutral with respect to the timing and direction of the next change.

Variable-rate mortgages and lines of credit move in conjunction with the prime lending rate. The next rate-setting day is September 3rd. Fixed rates on the other hand are based on the bond market.

Whether you are looking to purchase, refinance, or renew, I can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Or you may find that a hybrid mortgage, which is part fixed and part variable, is better suited to your needs. Call me today!

I regularly receive short-term rate promotions that are not posted online, which means my rates change frequently. Please contact me for the unpublished rate specials.

_________________
Paul Smith
Mortgage Agent
Mortgage Intelligence
Lic# M09000464
P - 905-691-6796
E - paul@bemortgagefree.ca
W - www.bemortgagefree.ca

Found On Facebook: Be Mortgage Free


Top
 Profile  
Reply with quote  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 5 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group
[ Time : 0.011s | 15 Queries | GZIP : Off ]