Bank of Canada holds steady

November 19, 2014 | Posted by: Natalie Wellings

As expected, the Bank of Canada left it’s key interest rte unchanged stating that they will likely not increase rates until the economy has recovered. Many are not predicting an increase to the prime lending rate until September.

This latest announcement by the Bank of Canada is welcome news to mortgage holders with variable rate or home equity line of credit mortgages.

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