Bank of Canada leaves the key rate unchanged — From Mortgage Broker Peter Paley

                                            

Peter Paley - Your Home and Mortgage Peter Paley

Bank of Canada leaves the key rate unchanged

The Bank of Canada announced today that it is holding its key rate steady. Great news if you have a variable-rate mortgage or home equity line of credit, and for those looking to buy, renew or refinance this spring.

The announcement noted that “the impact of the oil price shock on growth will be more front-loaded than predicted in January, but not larger.” And that the “Canadian economy is estimated to have stalled in the first quarter of 2015.”

The next rate-setting day is May 27th.

Whatever your mortgage need, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation!

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.29%

2 YEARS

2.94%

2.19%

3 YEARS

3.44%

2.34%

4 YEARS

3.94%

2.54%

5 YEARS

4.79%

2.64%

7 YEARS

6.04%

3.39%

10 YEARS

6.50%

3.84%

Rates are subject to change without notice. OAC E&OE

Prime Rate

2.85%

5 yr variable

2.20%

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

 

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