Bank of Canada Rate Announcement - March 08, 2012

For the 12th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...conditions in global financial markets have improved.." The bank indicated in its media statement that European bank funding is showing signs of stabilization.

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – April 17, 2012.

Click here for the full Bank of Canada report.

If you are in a variable rate mortgage and need mortgage advice or if you have any friends or family that are buying a home or refinancing their existing mortgage, please call us so we can connect up with them. We always appreciate your referrals.