Bank of Canada Interest Rate Announcement May 31
The Bank of Canada has announced to day that there will be no change in the overnight lending rate. The Bank of Canada prime rate will remain at 1.00%.
Mortage rates recently dropped and now may be a good time to look into locking in a low mortgage rate as interest rates are expected to rise by the fall. Checking today’s best mortgage rates on the right side of this page shows a 5 year closed rate is available at 3.59%. Click on that rate table for more info.
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