Rate Cut: First One in Four Years!
Posted by: Karli Shih
The Bank of Canada has cut the overnight rate for the first time in four years, a welcome relief to borrowers nationwide. The prime rate, which sits at 2.2% above the overnight rate, will subsequently drop from 7.2% to 6.95%. Variable and adjustable rate borrowers, as well as borrowers with Home Equity Lines of […]
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