Found 1 blog entry tagged as bank of canada.

Bank of Canada


Bank of Canada Increased Interest Rates Today

Bank of Canada raised its bank rate today to 4.25%.  Read about inflation, GDP (Gross Domestic Product), CPI (Consumer Price Index) ad more in their latest press release HERE My recommendation if you are looking at purchasing or expect to refinancing in the near future is to lock in at  the best short term interest rate available for a year or 2 year term as the interest rate is expected to go down in 2024.  Still amortize your mortgage over 25 or 30 years, but give yourself the opportunity to negotiate with the bank who has already approved you.  Ask them for a lower interest rate when you see the interest rates start to go down again. Also read the fine print of your mortgage.  It…

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