New Testimonial - Low Pressure

I would have to say that I appreciated the way you didn't pressure me to buy any particular house, nor buy at a particular time. You encouraged me to find that perfect home that is just right for me. I nearly settled for second best and now that I'm in a home I love I'm glad you had the patience to let me find that. I also appreciate the way you allowed me to go through my own process of picking out a home rather than heavily direct the process.

 

26-May-16

Tamara S

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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.

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