Bank of Canada Rate Announcement

Bank of Canada Rate Update
The Bank of Canada announced yesterday that it is maintaining it's target for the overnight rate rate at 1/2 per cent.  This means that the banks will be keeping their prime rate at 2.70% according to this move.  This is great news for variable rate holders.  It simply means you will continue to see great rates on your mortgage.

Based on the activity of the Bank of Canada for a really long time I would say that variable rates have become very attractive to people acquiring mortgages.  Even for those who are not risk takers.

The next meeting is scheduled for April 13th, 2016.

Buy a House in Calgary Now
Average List Price: $569,381
Active Listings: 15,710
5 year fixed Annual income required:$88,861.43
5 year variable Annual income required:$106,137.19
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: $421,319
Active Listings: 1039
5 year fixed Annual income required:$66,594.01
5 year variable Annual income required:$79,377.38
Based on 5% down.  O.A.C.  For Information purposes only.
**To see what you qualify for contact me**