Wednesday, December 03, 2014

Bank of Canada Interest Rate stays steady December 3rd 2014

Good morning from Beautiful Mississauga!

The Bank of Canada made their interest rate announcement and once again they maintain their overnight rate at 1%.

The interest rate has been unchanged since September 2010 adding to the longest period of no change in the interest rate in history.

This means the prime rate to consumers remains unchanged at 3.00%

Some economists have been predicting that the prime rate will remain unchanged until sometime in 2016

My prediction is now for mid 2016 before we will see an increase in the rate of 3%   Many are saying longer.

I hope this finds you Happy and Healthy!
All the Best!
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577

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