Bank of Canada Interest Rate Announcement Next Week
The next Bank of Canada interest rate announcement will be Tuesday July 19 at 9AM. Please check back at that time to see if there will be an increase in the Canada prime rate.
Tags: Bank of Canada, canada prime rate, bank of canada, bank of canada interest rate, canada interest rate, bank of Canada announcementBank of Canada Interest Rate Announcement October 19, 2010
The Bank of Canada has decided to leave the key overnight interest rates at the level set back in September, 1%. This is after 3 interest rate hikes in a row this year.
This is attributed to a cooling off of economic growth seen earlier this year. The fact that the U.S. economy is not yet showing signs of recovery may also be a factor in the interest rate decision.
Mortgage rates are not expected to change as a result of today’s announcement. There are still some great mortgage rates available through the updated ad on the right. A 5 year closed mortgage is offered at 3.45%. Try to get that at your bank.
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The Bank of Canada will release an interest rate announcement in 2 hours. The Canada prime rate is not expected to change due to recent economic statistics. Check back after 9 AM EDT for more.
Tags: interest rates, Canada Prime Rate Updates, canada prime rate today, Bank of Canada Prime Rate today, prime rate canadaBank of Canada Prime Rate Update September 8, 2010
The Bank of Canada has announced that it is raising the the key interest rate, the rate at which banks borrow and lend amongst themselves, by 0.25% to 1.00%.
According to analysts, this may be the last interest rate hike until 2011. If you need to lock-in the best rate possible for either a new mortgage or a renewal, please CLICK HERE now to compare Canadian mortgage rates from banks and the top brokers.
“Bank Governor Mark Carney has long signaled the need to hike national borrowing costs in order to rein in economic activity and reduce inflationary pressures. But now, economists believe the central bank will hold rates steady at one per cent after Wednesday’s boost. TD is forecasting the bank’s rate at one per cent until at least the second quarter of 2011. The Bank of Montreal figures Canada’s one per cent interest to last even longer, until the July-to-September period in 2011.”
Read more: http://www.cbc.ca/canada/montreal/story/2010/09/07/bank-of-canada-rate-lookahead.html#ixzz0yrk8VDu4
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Canada Prime Rate Up 0.25% Today
As was widely expected, the Bank of Canada raised its key lending rate by 0.25% this morning.
This brings the rate to 0.75%.
The next rate announcement will be in September and another rise is likely according to analysts.
I’ve added some links below that may help you find the lowest mortgage rates possible for your own situation.
Click here to check on the major bank mortgage rates. These rates will be updated as necessary.
Click here to read my mortgage story and find out how my family is saving thousands in interest.
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According to a poll last week by Reuters, the Bank of Canada is likely to raise its overnight interest rate Tuesday by 0.25%. This will bring the Canada prime rate up to 0.75%.
Check back here tomorrow morning to get the latest interest rate increase news.
Now might be a good time to investigate how you could save on your mortgage. Click here to find out how my family is saving more than we thought possible.
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