There was no change in today’s press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%.
This means no changes in variable rate mortgages or line of credit rates.
Five year money ranging from 3.59-3.89% and 10 year money from 4.39% range. Variable rate mortgages are available in the 2.6% range
Below are the highlights of the Bank of Canada Announcement:
– Growth expected into 2014 and 2015
– Inflation in Canada remains subdued. With inflation expectations well-anchored, both core and total CPI inflation are expected to return slowly to 2 per cent into 2015
– Monetary policy currently in place remains appropriate.
The next Bank of Canada Announcement is scheduled for Dec 4th, 2013.
Bank prime is 3.0%