MORE RATE CUTS?!?!
How low can interest rates go?! The Bank of Canada announced a further .25% cut to its key overnight bank rate today.
Stay tuned for reaction from Canada’s major banks…if the banks follow suit with a .25% reduction to mortgage rates, we could see a new prime rate of 2.25% which can translate into a new 5 year variable rate mortgage mortgage rate offering as low as 2.75%!
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