KITCHENER – WATERLOO CONDOS & LOFTS FOR SALE

Bank of Canada keeps Benchmark Interest Rate Unchanged!

Key Interest Rate Stays Put

With a lower growth forecast, the Bank of Canada is once again keeping its key policy rate unchanged, noting that our historic low rates “will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required.” With a weaker second half of 2012, the bank projects that growth in Canada will regain some momentum through 2013, with the economy “reaching full capacity in mid 2015 – later than anticipated.”

The prime rate for most lenders should stay at 3%, now unchanged since September 2010.

The Bank’s next rate decision is scheduled for May 29.

As for fixed rates, we continue to enjoy historically low rates for those looking to purchase or refinance, perfect for the spring market!

Some of the Best Rates out there give me a call and I can connect to you to a great Mortgage Broker!
Terms Posted Rates Our Rates
6 MONTHS 4.00% 3.95%
1 YEAR 3.00% 2.65%
2 YEARS 3.04% 2.69%
3 YEARS 3.70% 2.65%
4 YEARS 4.64% 2.85%
5 YEARS 5.24% 2.84%
7 YEARS 6.35% 3.49%
10 YEARS 6.75% 3.69%
Rates are subject to change without notice. OAC E&OE

 

CURRENT PRIME RATE IS 3.00%

 

PRODUCT RATE
5 YEAR VARIABLE: 2.60%
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