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Cory Kline, AMP - Mortgage Agent
Cory Kline, AMP
Mortgage Agent
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Bank of Canada Announcement

Updated Tuesday, December 4, 2012
Views (6238)

As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.

 

This means no changes in variable rate mortgages or line of credit rates.

 

Fixed rates remain at records lows. We currently have five year money ranging from 2.99% to 3.19%.

 

 

Below are the highlights of the Bank of Canada Announcement:

  • Very little change in the "Banks" wording regarding future plans of any rate changes.
  • "over time, some modest withdrawal of monetary stimulus will likely be required."
  • The pace of economic growth is expected to pick up through 2013.
  • While household debt burden continues to rise, growth in household credit has slowed
  • Modest growth is still expected in the Canadian economy

Click Here to Read the Full Announcement

 

 

The next Bank of Canada Announcement is scheduled for January 23rd, 2013

 

Bank prime is 3.00%

 

-Cory Kline (705-794-1283)

Mortgage Planning since 1998

P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.


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