Canadian Mortgage Rates Up
Posted May 30, 2007 @ 3:40 pm, Viewed by 1993 Visitors, Read 2052 Times.(May 30/07) While the Bank of Canada DID NOT increase the prime interest rate at yesterday's meeting, they issued a strongly worded press release suggesting that an increase in the overnight rate was to be expected at their next meeting - July 10th.
In response, all of the major Canadian banks increased their mortgage rates this morning, with 5 yr fixed rates increasing by as much as 0.30% to 7.14% *note - the wholesale or preferred rate for a 5 yr fixed will likely be around 5.74%*.
To read the complete article visit Rates Heading Up?
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Jim Sparrow is a consistent top-producing Calgary REALTOR® with Royal LePage specializing in South Calgary estate and luxury homes.
Visit our website at Calgary Real Estate or contact me directly at 403.703.2404
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