Canadian 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.
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