Agent Blogs
Cory Kline, AMP
Mortgage Agent
Cory's Mortgage Market Update
Updated Friday, July 19, 2013
Views (5617)
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.
Five year money ranging from 3.39%-3.59% and 10 year money is at 3.99% -4.19%.
Below are the highlights of the Bank of Canada Announcement:
-
the global economy is expected to pick up in 2014 and 2015
- "Inflation has been low in recent months and is expected to remain subdued in the near term"
- "Monetary policy stimulus currently in place will remain appropriate
- "As the normalization of these conditions unfold, a gradual normalization of policy interest rates can also be expected"
Click Here to Read the Full Announcement
The next Bank of Canada Announcement is scheduled for September 4th, 2013.
Bank prime is 3.0%
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 (705-794-1283 or Cory@NDLC.CA)
Mortgage Planning since 1998 (FSCO LIC# M09001239)
"Call for a FREE second opinion"
