Wednesday, September 8, 2010

They've done it again!

They've done it again! The Bank of Canada announced yet another rate hike earlier this morning, raising their key lending rate to 1.00%. Most experts agree that this will likely be the last rate hike for some time as the economy is not yet running at full steam. This latest change to the key lending rate will affect borrowers holding variable rate mortgages as well as home equity lines of credit.
To read CBC's article on the rate increase click HERE.

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