The Bank of Canada has lifted its key lending rate by 1/4 percentage point, to 0.75%. The bank said any further increases “would have to be weighed carefully against domestic and global economic developments.”
Meaning what? The BoC will now (more than likely) leave well enough alone for the foreseeable future. Although… we’ve heard that before. The next interest rate meeting is September 8th. Below is a chart of where we’ve been over the years. (Click on it for a bigger view)
Lowest rates of this beautiful day:
5yr Fixed @ 4.04%
3yr Variable @ 1.80% (Prime -.70%)
If you’re renewing, refinancing or purchasing… Call me NOW to hold these great rates!
I hope you’re enjoying a great summer so far!
