Interest Rates

December 7, 2011

The Bank of Canada announced that they are going to be maintaining the overnight rate at it's current level.  This is due to uncertainty in the world markets and the expectation that inflation rates will decline in the near future.  So long as inflation stay low there shouldn't be a need for the lending rate to be increased any time soon.  This is great news for those looking to buy a home as we are still seeing great rates being offered by lenders.  While the variables rates are not as low as we have seen recently, the 5 year rates have remained quite low. 

Source: Bank of Canada