Mortgage Rate Update – Possible Delay In Increase
Variable Rate Mortgages – Bank Prime Rate
For some time now we have been hearing that we should expect the Bank of Canada and therefore Bank’s Prime rate to start rising around July of this year, 2010. However, recently in the new there has been suggestion that raising rates at this time could be a bit pre-mature and that it would not be wise to start raising rates until early or mid 2011. The Bank of Canada’s next meeting is on March 2. Stay tuned for more information or contact me at maury@maurylum.com.
