Bank of Canada Rate Announcement - May 31, 2011

For the 6th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...some of the considerable monetary policy stimulus currently in place will be eventually withdrawn." The bank indicated in its media statement that the disasters that struck Japan in March are severely affecting Japan's economic activity which in turn could slow global economic growth.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – July 19, 2011.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.

Bank of Canada Rate Announcement - April 12, 2011

For the 5th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...any further reduction in monetary policy stimulus would need to be carefully considered." The bank indicated in its media statement that the persistent strength of the Canadian Dollar is dampening economic growth.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – May 31, 2011.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.

Bank of Canada Rate Announcement - March 01, 2011

For the 4th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...global economic recovery is proceeding broadly in line with the Bankof Canada January 2011 projections." Although risks remain elevated, the bank indicated in its media statement that the pace of recovery is moving slightly faster than anticipated.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – April 12, 2011.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.

Bank of Canada Rate Announcement - January 18, 2011

For the 3rd straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, but hinted that increases are on the way. While global economic instability continues, the bank indicated in its media statement that the pace of recovery is moving faster than anticipated.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

The timing of Flaherty’s announcement fuels speculation that interest rate hikes are imminent. For Canadians managing oppressive debt loads, even an incremental rise in rates could be costly.

The time is now to get a handle on your debt, while rates are favourable.

Next Bank of Canada rate announcement – March 01, 2011.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.