We had a truly excellent experience using Graham as our realtor. My partner and I are both first-time home buyers and Graham went out of his way to make sure we felt comfortable asking any questions or raising any concerns. He made a daunting process seem accessible and with his guidance and know-how we were able to purchase a home that was everything we wanted and more, all for a great price! We would highly recommend Graham to anyone looking to buy or sell a home, especially folks who are new to the process.
Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.
The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.
The next rate-setting day is October 22nd.