by Michelle McCullough | Apr 15, 2020 | Announcements, Bank of Canada, City of Prince George, Interest Rate, Mortgage, Mortgage Broker |
It is no surprise the Bank of Canada held firm on its overnight rate of .25% (1/4 percent) and did not venture into negative interest rates that have been tried notably in Europe and Japan with no evidence that negative rates improved GDP outcomes. Generally,...
by Katy Livingstone | Apr 9, 2020 | Uncategorized |
Why are mortgage interest rates rising when the Bank of Canada continues to drop the Prime Lending Rate? In January 2020 the Bank of Canada prime rate was 3.95%, since then we have seen multiple drops and the prime lending rate is now 2.45%. Normally, we would see...
