Canada Prime Rate
Keeping You Up To Date On The Canada Prime Rate

Bank of Canada Announcement Coming Next Tuesday

The next Bank of Canada interest rate announcement will be Tuesday October 25 at 9AM. According to a Reuters poll launched on Tuesday, The Bank of Canada could keep rates on hold until the third quarter of 2012 due to slow global growth and also the risk that the debt problems in Europe will continue or worsen.

“The Reuters poll of 40 economists and strategists demonstrated the median forecast for the following rate of interest increase was pressed back by three several weeks in the second-quarter of 2012 forecasted within an August poll.

Experts stated Canada’s central bank have to raise borrowing costs under they formerly thought, since the domestic economy hasn’t retrieved as strongly not surprisingly and also the European debt crisis is still dampening the worldwide outlook.”

Full story at www.ibtimes.com

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Posted by Prime Rate Guy - October 20, 2011 at 4:05 pm

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Bank of Canada Prime Rate Update September 7, 2011

As anticipated by most analysts, the Bank of Canada has decided to hold the key overnight interest rate at 1%. The prime rate was predicted to rise today as recently as a few months ago. However, the recent nasty economic news from almost all fronts helped convince the Bank of Canada to hold the Canada prime rate at the current level for the time being.

Canadian mortgage rates have already increased slightly due to the economic outlook. RBC and other banks have recently raised variable rate mortgage rates.

If your mortgage is due soon, or you want to lock in a great interest rate, you can find some of the best mortgage rates available at RateSupermarket.ca & BestMortgageOffers.ca

 

 

Tags: Canadian Mortgage Rates, Bank of Canada, bank of canada, Canada Prime Rate Updates, bank of Canada announcement

Posted by Prime Rate Guy - September 7, 2011 at 9:04 am

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Bank of Canada Interest Rate Uncertainty

The next Bank of Canada interest rate announcement is coming September 7, 2011. While an interest rate hike has been pretty much ruled out, it’s possible there may be a cut in the Bank of Canada prime rate on that date. Mortgage rates are fluctuating with some variable rates rising at certain institutions. Check back again on the 7th for the latest update.

Tags: bank of canada prime rate, Canada Mortgage Rates, canada interest rate, Canadian Mortgage Rates, Bank of Canada

Posted by Prime Rate Guy - August 29, 2011 at 8:33 am

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No Bank of Canada Interest Rate Hike This Year?

Just a few weeks ago the Bank of Canada was expected to raise interest rates in September. This appears to be off the table now with all the recent economic turmoil in the U.S. and Europe. In fact, a rate decrease may be coming due to the recent interest rate freeze announced in the U.S. An interest rate cut however could lead to lower mortgage rates and tempt homebuyers to borrow beyond their limits.

In fact, 5 year fixed mortgage rates are now at the lowest rate seen in quite a while and could go lower. This is good news for those who would like to lock in a great rate, but the big question is when to act. Check out the current mortgage interest rates by clicking on the rate table below.

 

Tags: mortgage rates, interest rates, bank of canada interest rate, canada interest rate, Canadian Mortgage Rates, bank of Canada announcement

Posted by Prime Rate Guy - August 12, 2011 at 2:15 pm

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Bank of Canada Interest Rate Announcement July 19, 2011

The Bank of Canada has announced that the prime rate will remain at 1.00%. This was widely expected by most analysts. However, the Canada prime rate is also expected to increase by September.

Now may be a good time to look into locking in a low mortgage rate before potential interest rate hikes this fall. Compare today’s best interest rates by clicking on the table on the right to see how much you could save.

Tags: bank of Canada announcement, Bank of Canada, canadian prime rate, prime rate canada, bank of canada prime rate, bank of canada, Canada Prime Rate Updates, bank of canada interest rate

Posted by Prime Rate Guy - July 19, 2011 at 9:02 am

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New Canadian Mortgage Calculator On Facebook

For those of you on Facebook, we’ve added an easy to use Canadian Mortgage Calculator. Please visit http://www.facebook.com/MortgageCalculatorCanada to try it out and let us know if you like it. Thanks.

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Posted by Prime Rate Guy - July 12, 2011 at 12:35 pm

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