March 3, 2009: Interest Rates at Historical Low
The Bank of Canada moved the overnight lending rate down to 0.5% today which means that we are at an all-time low. Now is certainly the time to get yourself pre-approved at these low rates - you have nothing to lose but the opportunity of saving thousands of dollars in interest.
January 20, 2009
More good news for people holding a variable mortgage and those individuals currently looking to buy property - the Bank of Canada announced another reduction to their overnight lending rate from 1.5% to 1%. Most of the banks are following suit with a half a percent reduction to their prime rates from 3.5% to 3.0%.
November 25, 2008
New Conference Board of Canada study just released lists consumer confidence at a 26 year low in Canada. The article published in 24 Hours is attached. Articles like this help consumer confidence sink lower because most people will follow the accepted or published trend so if you are someone that goes against trends you will find many deals to be had around town - some of the biggest being real estate.
November 24, 2008
Here is an article from today's 24 Hours newspaper. It lists the top 10 recession proof careers. If your profession is on the list now may be the best time to start investing - go on offense when everyone around you is on defense.
October 9, 2008
So the Bank of Canada lowers the overnight lending rate yesterday by 0.5 but mortgage rates for the 5 year fixed are still inching up and the variable rates are still not being discounted like they were a few weeks ago. To read more about the Bank of Canada's move read it from their website, straight from the source.
