Bank of Canada Interest Rate Announcement January 18
The Bank of Canada announced a few minutes ago that there will be no change to the key overnight lending rate.
The interest rate will remain at 1.00%, unchanged since September. This was anticipated by almost all analysts. Acording to the Bank, ” The recovery in Canada is proceeding broadly as anticipated, with a period of more modest growth and the beginning of the expected rebalancing of demand”. Mortgage rates are not expected to change as a result of today’s announcement. As always, check out the great rates available on the right side of the page if you’re looking for a mortgage or to re-finance an existing mortgage.
Tags: prime rate canada, Interest rates Canada, mortgage bank, bank of canada prime rate, Canada Mortgage Rates, Bank of Canada, Bank of Canada Prime Rate today, bank of Canada announcementCanada Mortgage Rates Update
A quick update on the mortgage rates from the major banks. For the big 4 banks, BMO, CIBC, RBC and TD, the closed mortgage rates have dropped over the last few weeks. A sample 5 year closed rate is available at 5.29%
However, the variable rates have all increased during the same time period. A sample 5 year open mortgage rate is available at 3.80%
Is now a good time to lock in a variable rate mortgage?
With the economy in the U.S. not showing much improvement and interest rates there at all time lows, there is an expectation that interest rates in Canada will hold at present levels for the immediate future.
However, it does pay to shop around for mortgage rates just as you would for a major purchase. I recommend comparing mortgage rates online on a regular basis to see if you can get a better deal than what you are currently paying. In my opinion, a great place to do this is at the link below:
Click here: Best mortgage rates.
Today a 5 year closed mortgage is 3.29%. Check it out to see what you can save.
Tags: CIBC mortgage rates, TD mortgage rates, Canadian Mortgage Rates, variable rate mortgage, Canada Mortgage Rates, BMO mortgage rates, Canada mortgage ratesMortgage Rates Update
I’ve updated the mortgage rates pages to reflect the recent drop in most rates by the major banks. The RBC rates are not accurate at this time however.
The next Bank of Canada interest rate announcement is expected on September 8th. Check back then to see if there are any changes to the Canada prime rate.
I’ve written about what a great deal I got on my current mortgage and line of credit. I can thank my mortgage broker for that. I’ve been referring some Ontario residents to him but I now have another source for getting the absolute best rates. If you are looking for a new mortgage or have to renew one, please take a moment to check out RateSupermarket.ca at the following link: Mortgage rates
They offer an online application with links to both banks and mortgage brokers to get you the best available rate on the day you apply.
Tags: mortgage rates, Canadian Mortgage Rates, bank of Canada announcement, bank of canada interest rate, Canada Prime Rate Updates, bank of canada, current mortgageNew Mortgage Rates Pages
To enable you to check on the latest mortgage rates at the major banks, I’ve added 4 pages to the site with mortgage rate tables from the banks listed below. Included are fixed rate mortgages, variable rate mortgages and 6 month to 10 year open and closed mortgages.
Bank of Montreal Mortgage Rates BMO Mortgage Rates
CIBC Mortgage Rates CIBC Mortgage Rates
RBC Mortgage Rates RBC Mortgage Rates
TD Mortgage Rates TD Mortgage Rates
Tags: Bank of Montreal, Royal Bank, CIBC, mortgage rates, BMO, TD Bank, TD mortgage ratesCanadian Mortgage Rates Update
An update on Canadian mortgage rates after the Bank of Canada interest rate hike today. Here are the current rates at the major banks:
- TD Prime Rate – 2.50%
- RBC Royal Bank Prime Rate – 2.50%
- BMO – Bank of Montreal Prime Rate- 2.50%
- CIBC Prime Rate- 2.50%
However, the Bank of Montreal lowered its five year fixed mortgage rate to 4.25%.
The next Bank of Canada interest rate announcement is due on July 20, 2010. Many analysts are predicting another increase in the prime lending rate.
Tags: RBC Prime rate, BMO mortgage rates, prime rate canada, mortgage rates Canada, TD mortgage ratesCategories: BMO mortgage rates, BMO Prime Rate, Canadian Mortgage Rates, prime rate canada, RBC Mortgage Rates, TD mortgage rates, TD Prime Rate Tags: Bank of Montreal Prime Rate, BMO Prime Rate, Canadian Mortgage Rates, CIBC prime rate, interest rates, mortgage rates, mortgage rates Canada, RBC Prime rate, Royal Bank Prime Rate, TD Prime Rate
Bank of Canada Interest Rate Announcement June 1
The Bank of Canada has announced an increase of 0.25% in the Canada prime rate. The new interest rate is now 0.50%
This increase was widely anticipated and is the first interest rate increase in 3 years. Balancing growth and the possibility of inflation were two major factors to consider.
We’ ll follow up later today with any changes to mortgage rates from the TD, RBC and BMO.
Tags: Canada Prime Rate Updates, Bank of Canada interest rate announcement June 2010, bank of canada, interest rates, Canadian Mortgage Rates, prime rate canada, canada prime rate, canada prime rate todayCategories: Canada Prime Rate Updates, prime rate canada Tags: bank of canada, bank of Canada announcement, Bank of Canada interest rate announcement June 2010, bank of canada prime rate, Bank of Canada Prime Rate today, canada prime rate, Canada prime rate june 2010, canada prime rate today, Canadian Mortgage Rates, canadian prime rate, interest rates, prime rate canada
