Agent Blogs
Cory Kline, AMP
Mortgage Agent
Bank of Canada Announcement
Updated Wednesday, October 23, 2013
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There was no change in today's press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%.
This means no changes in variable rate mortgages or line of credit rates. Five year money ranging from 3.59-3.89% and 10 year money from 4.39% range. Variable rate mortgages are available in the 2.6% range.
Highlights of the Bank of Canada Announcement: -Growth expected into 2014 and 2015- Inflation in Canada remains subdued. With inflation expectations well-anchored, both core and total CPI inflation are expected to return slowly to 2 per cent into 2015-Monetary policy currently in place remains appropriate.
The next Bank of Canada Announcement is scheduled for Dec 4th, 2013. Bank prime is 3.00%.
If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.
Cory Kline:Mortgage Planning Since 1998, Call / Text: 705-794-1283 or cory@ndlc.ca (Mortgage Agent, FSCO # M09001239,Brokerage FSCO Lic. # 11764)
