Bank of Canada maintains steady rate, Prime rate remains at 3%

Lot’s of talk lately about when rates will actually start increasing.  According to this article, rates will not start to increase until mid to late 2015 which is good news for all of you in variable rate mortgages.   Not all variable rate mortgages have the same options and features, the biggest question to ask is “What rate will you guarantee me when rates increase and I decide to lock in?”  If the answer is not “the best discounted mortgage rate on the market” and they can’t give you that in writing, we need to talk.


Source: Daryl Harris Mortgage Broker