Bank of Canada Rate Remains Unchanged

Bank of Canada keeps rates steady. View this email in your browser

Term Rates 1 Year Fixed 2.29%  2 Year Fixed 2.19%  3 Year Fixed 2.34%  4 Year Fixed 2.34%  5 Year Fixed 2.44%  7 Year Fixed 3.44%  10 Year Fixed 3.84%  Variable Rate 2.05%  Prime Rate 2.85%  Benchmark Rate 4.64%  Rates subject to change without notice.  Some conditions apply.  O.A.C. Facebook Twitter Email Website LinkedIn Google Plus Bank of Canada keeps rates steady. The Bank of Canada announced this week that it will be maintaining the target for the overnight rate at ¾ percent-which means variable rate mortgage holders can continue to enjoy their current rate, at least until the Bank's next announcement in July. While there were some concerns raised recently about low inflation, the Bank said in its release that, while total CPI inflation is near the bottom of the Bank's 1 to 3 percent inflation control range, Core inflation remains above 2 percent. And if you look through temporary factors, it estimates the underlying trend of inflation is around 1.6 to 1.8 percent. As far as the Canadian economy is concerned, it seems to be in line with predictions the Bank made back in April. The US had a weaker first quarter than expected, which has subsequently strengthened the Canadian dollar-with the help of higher oil prices. Overall, while the Bank acknowledges that risks to financial stability remain elevated, things are pretty much progressing as expected-hence its decision to stay the course and keep rates where they are. If you have any questions about mortgage rates-variable or otherwise-or any other mortgage-related questions, please don't hesitate to drop me a line.   Buy a House in Calgary Now Average List Price: $601,911 Active Listings: 13,227 5 year fixed Annual income required:$93,753.70 5 year variable Annual income required:$112,016.47 Based on 5% down.  O.A.C.  For Information purposes only.   **To see what you qualify for contact me** Buy a House in Airdrie Now Average List Price: $424,500 Active Listings: 971 5 year fixed Annual income required:$67,072.41 5 year variable Annual income required:$79,952.29 Based on 5% down.  O.A.C.  For Information purposes only.   **To see what you qualify for contact me** Do you have any friends, family or collegues that you feel could benefit from any of the services I offer?  Do you know anybody who would benefit from the information provided?  If so, I would appreciate it if you would share this email, pass it around.  Thanks so much.  Forward to a Friend