Saskatoon Mortgage Broker shares article on the lower bound for rates

The Lower Bound for Rates

Robert McLister, August 10, 2015

Many argue against variable-rate mortgages given that rates “can’t drop much more.” But while it’s true that rates are near the bottom, there’s still a question of “where’s the bottom?”

The Bank of Canada’s floor for the overnight rate—the rate that drives prime rate—was previously established at 0.25%. It sat at that all-time low from April 2009 to June 2010.

to read full article please click here.


No comments yet.

Add your Comment