Another Interest Rate Increase
Here is some good info on the recent rate change yesterday.
http://www.cbc.ca/news/business/bank-of-canada-rate-decision-1.4276837
Following the change, one lender has lowered their discount to prime - 0.95%. So for people who are in the -0.40% to -0.50% range, a switch into a lower discount might be advantageous depending on your time remaining in your existing term.
I also have a 3 year fix at 2.49%.
Before panicking and locking in with your existing lender give me a call for a quick chat!
A switch/transfer can be done without legal fees or appraisal so its worth considering if the numbers work.
Cheers!
|
|
|
|
|
|
|