Bank of Canada Rate Announcement

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Term Rates 1 Year Fixed 2.34%  2 Year Fixed 2.14%  3 Year Fixed 2.44%  4 Year Fixed 2.49%  5 Year Fixed 2.54%  7 Year Fixed 3.29%  10 Year Fixed 3.79%  Variable Rate 1.95%  Prime Rate 2.70%  Benchmark Rate 4.64%  Rates subject to change without notice.  Some conditions apply.  O.A.C.  Some rate discounts are dependent on giving up mortgage privileges, closing quickly and custom maturity dates.  For more details, contact me.   Facebook Twitter Email Website LinkedIn Google Plus Bank of Canada leaves overnight lending rate unchanged Once again, the Bank of Canada announced that it is maintaining its target for the overnight rate at ½ percent, despite stronger-than-expected global and domestic economies. While the global economy is exceeding the Bank's January expectations-and the US is similarly experiencing solid growth-the Bank believes there is still an element of uncertainty around the global outlook. Similarly, Canada's economic growth has been faster than predicted back in January, something the Bank attributes to a boost in spending in the oil and gas sector as will as increased consumer spending resulting from the Canada Child Benefit. While the Bank finds this increase in GDP "encouraging", it isn't prepared to declare the country on a "sustainable growth path". With CPI inflation currently at the Bank's target of 2 percent, the Bank expects it to dip in the months ahead before returning back to 2 percent later in the year. Because of all this-and the fact much of this good news could be "temporary"-the Bank has opted to maintain its current rate. If you have any questions regarding interest rates-or any questions regarding your mortgage at all-please feel free to drop me a line. Save the Date The Bank of Canada's next meeting date is scheduled for May 24, 2017. Buy a House in Calgary Now Average List Price: $548,356 Active Listings: 14,716 Recently Sold Properties: 1,760 Annual income required:$100,512.54 Based on 5% down payment.  O.A.C.  For Information purposes only. **To see what you qualify for contact me** Buy a House in Airdrie Now Average List Price: $409,453 Active Listings: 1,107 Recently Sold Properties: 281 Annual income required:$75,051.90 Based on 5% down payment.  O.A.C.  For Information purposes only. **To see what you qualify for contact me** Do you have any friends, family or colleagues 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 Copyright © 2017 Bayfield Mortgage Professionals Ltd., All rights reserved. unsubscribe from this list    update subscription preferences