Bank of Canada Cuts Interest Rates By A Quarter of a Percent
It looks like the Bank of Canada is not as bullish on the economy as the Royal Bank and today they cut the target overnight lending rate from 4.5% to 4.25%. I would imagine that you can expect a similar drop in some of the mortgage rates.
I will the leave the economic analysis to the experts so you can read the Bank of Canada press release regarding the rate cut here and Royal Bank Daily Economic Update here, but generally it seem the Bank of Canada is a bit concerned that global economic concerns will spill over into Canada. Take a look and let me know what you think.
Matthew Collinge: www.604homes.com - Royal LePage Westside
