Bank of Canada holds Key rate steady

Bank of Canada Holds Key Rate Steady

The Bank of Canada announced this morning that it will leave its key interest rate unchanged. The Bank also reiterated its commitment to hold its key rate at the current level until the end of the second quarter of 2010, conditional on the outlook for inflation. In its statement the Bank noted that in Canada, “stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices, and a rebound in business and consumer confidence are spurring domestic demand growth. However, the higher Canadian dollar, as well as ongoing restructuring in key industrial sectors, is significantly moderating the pace of overall growth.”

Lenders are expected to keep their prime lending rate steady. Variable-rate mortgages, variable-rate credit cards, and home equity lines of credit are typically linked to a lender’s prime rate.

Pricing for fixed-rate mortgages is not directly affected by today’s announcement.
******************************
I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.
Whether you’re buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875

http://www.homesearchintoronto.com

Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
Email:diane@dianeplant.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s