The Bank of Canada made another announcement recently that there will be no change to the prime rate. The outlook is still the same as we previously thought, the rates are not expected to be touched until at least 2023. The reasoning for this is to avoid putting pressure on small business and people affected by the pandemic.
All in all, do not panic! Enjoy the low rate environment and take a look at a variable mortgage as a viable option with these historically low rates. #LiveAMonsterLife
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