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4 Mar

Bank of Canada keeps key overnight rate steady at 0.75%

General

Posted by: Karen Boies

The Bank of Canada has opted against a second consecutive interest rate cut today, keeping the key overnight rate steady at 0.75%.

“Financial conditions in Canada have eased materially since January, in response to the bank’s recent monetary policy action and to global financial developments.  The Bank of Canada said, “this easing is reflected across the yield curve and in a wide range of asset prices, including the Canada dollar.

For the full Globe and Mail article click here:
http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-holds-lending-rate/article23278542/

Today, our best variable rate is 2.05% and best 5 year fixed is 2.64%.   (both mortgage products come with restrictions).

Please feel comfortable to contact me if you have any questions about the announcement, mortgage rates or getting qualified for a new mortgage.  

Have a great day, Karen 604-726-9550