The bond rate decreased slightly over the last week but newly released inflation numbers suggest rising rates are on the horizon.
Interesting article below providing an overview of the inflation we have seen…
Price Hikes Spreading as Inflation Hits 3.3%
TAVIA GRANT AND RICHARD BLACKWELL from the Globe and Mail; Tuesday, Apr. 19, 2011 7:07AM
Inflation is spreading through the economy at a faster pace than the Bank of Canada expected, marking a turning point after two years of little price pressure.
Until now, higher prices had largely been limited to energy, defying a trend that has swept through other countries as commodity prices surge. But they’re now showing up throughout the economy, from the post office to department stores, promising to influence key business decisions and threatening to drive up rents.
Bank prime is at 3.00%
The next meeting of the Bank of Canada is on May 31, 2011
If you have a variable rate of any more than prime, prime + or a fixed rate of 5.0% or more, we should explore the merits of refinancing to a lower rate. Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.
Have a Happy Easter long weekend!