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29 May

Bank of Canada Announcement

General

Posted by: Cory Kline

As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.

 

This means no changes in variable rate mortgages or line of credit rates.

 

Five year money ranging from 2.89%-3.04% and 10 year money in the 3.69%-3.79% range.

 

 

Below are the highlights of the Bank of Canada Announcement:

  • “The Bank expects global economic activity to grow modestly in 2013 before strengthening over the following two years” 
  • Canada’s growth was stronger than initially projected in the first quarter
  • Growth in household credit is slowing.
  • “Monetary policy stimulus currently in place will likely remain appropriate for a period of time“

Click Here to Read the Full Announcement

 

The next Bank of Canada Announcement is scheduled for July 17th, 2013.

 

Bank prime is 3.00%

 

-Cory Kline 705-794-1283 or Cory@ndlc.ca

Mortgage Planning since 1998
P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.

 

“Call Cory for a FREE second opinion on your mortgage”