The Bank of Canada cut its lending rate today by half point to 0.50%, the lowest level ever. The decrease was inline with most economists expectations.
Various Canadian Banks followed this announcement by cutting their Prime Rate by 0.50% to 2.50%.
The Bank of Canada also stated that its latest projections for the Canadian economy now look optimistic in the light of the latest economic data.
Gina Burgio, Mortgage Agent
FSCO Lic. No. M08008590
VERICO Designer Mortgages Inc.
FSCO Lic. No. 10194
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
Each VERICO Broker is an independent owner operator.
Serving Ancaster, Hamilton, Stoney Creek, Dundas, Grimsby, Niagara Falls, St. Catharines, Burlington, Oakville, Toronto, Brantford, Kitchener, Guelph, Milton, Mississauga, and surrounding areas.
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