The Bank of Canada's qualifying rate has drifted downwards to 5.89% as of 06.30.2010... This should help 'ease' some people's concerns (a bit) when qualifying to purchase a home with a fixed term shorter than 5 years OR with a variable rate term.
June 17, 2010
Since last week's 'blip' upwards, we've seen the major lenders bump their 'street' prime upwards, but otherwise, things are hovering at the same levels - no changes on the Bank of Canada side of things to report today, just a "refresher"!
April 9, 2010
Source: http://www.financialpost.com/news-sectors/economy/story.html?id=2777584#ixzz0kYfL1zaB OTTAWA - With the Canadian economy doing surprisingly well over the past six months, many see higher interest rates from the Bank of Canada in the not so distant future, but according to a report released Thursday from CIBC's chief economist Avery Shenfeld, rates are likely to remain at a very low 2.5% through to 2011.
July 7, 2010