Bank of Canada
Bank of Canada surprising Prime Rate cuts by .25%
It will help Variable Rate mortgage holders as well as Canadians looking for new mortgage.
The Bank of Canada surprised cut of key interest rate by 0.25 per cent will affect Canadian consumers, this is a good news for mortgage holders with Variable Rate. Variable Rate Mortgages are determined by Bank of Canada Prime Rate. All big Bank had reduced the prime rates by .15 percent whereas the prime interest cut was 0.25%.