News from Canada's Mortgage Experts
Category: Current Rates
MORE RATE CUTS?!?!
Tuesday, April 21, 2009
Posted by: Diane Alvernaz
How low can they go! The Bank of Canada announced a further .25% cut to its key overnight bank rate today.
Stay tuned for reaction from Canada’s major banks…if the banks follow suit with a .25% reduction, we could see a new prime rate of 2.25% which can translate into a new 5 year variable rate mortgage offering as low as 2.75%!