Big Banks Fail to Match Bank of Canada Rate Cut – Kitchener Waterloo Condos for sale
The major Canadian banks announced today that they will be lowering the prime lending rate by .15 basis points to 2.85%.
This move is the follow up to the Bank of Canada lowering the prime rate by .25 basis points last week. It is usual normal practice for the big banks to follow suit to the BOC but this rate change widens the spread or gap. It is an interesting move by the banks and I wonder if this is good for us as consumers or good for them?
Here is the link to the full article for more info.
I do believe the the Canadian housing market will show continued growth over the next year and this rate cut will further help to stimulate that growth.
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This entry was posted on January 28, 2015 by kevinbakerrealestate. It was filed under Uncategorized and was tagged with agent, assessment, assessment value, bank of canada, big banks, canada trust, cibc, condo, condo buying, condo costs, condo selling, condo units, condo value, fixed rates, government, mortgages, prime rate, rbc, real estate, remax, royal bank, TD Bank, twin city realty, twin city reatly, variable rates.