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THE PRIME STAYS PUT, WHAT DOES THIS MEAN TO VARIABLE RATE

The Bank of Canada has announced that their lending rate will stay at 1% which means that Prime (the rate that consumers pay) will stay at 3%. The major banks were thinking that Prime was going to increase, every indication showed to them that Prime was going to go up. In turn, the banks started to give a better variable rate discount to consumers.   Let me explain, when the Five Major Banks ...

Are rates going up? or down?

Everybody has been seeing the interest rate of late going up but are the rates increase here to stay? The biggest question I get asked is what are the interest going to do in the next 5 years.  Well If I knew the answer I would be a very rich man.  But there are signs in the market that gives us indication on what the rates may do. The word from USA was that the government was not going ...
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