Bank of Canada maintains overnight rate target at 1 per cent
News Release:
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
This means that for most folks with VRM (variable rate mortgages), lines-of-credit, and personal loans with interest rates based on the prime lending rate will continue to see a low prime interest rate for these credit facilities.
Today's prime lending interest rate for most Canadian financial institutions is 3.00%.
Download the full report:
http://www.bankofcanada.ca/2012/10/press-releases/fad-press-release-2012-10-23/
Planning to Buy or Sell Real Estate? Contact David
Your Vancouver Real Estate Specialist.
DavidValente.com
604-377-6015
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
This means that for most folks with VRM (variable rate mortgages), lines-of-credit, and personal loans with interest rates based on the prime lending rate will continue to see a low prime interest rate for these credit facilities.
Today's prime lending interest rate for most Canadian financial institutions is 3.00%.
Download the full report:
http://www.bankofcanada.ca/2012/10/press-releases/fad-press-release-2012-10-23/
Planning to Buy or Sell Real Estate? Contact David
Your Vancouver Real Estate Specialist.
DavidValente.com
604-377-6015