Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
Call Us: 416-930-1225

Canadian prime rate and Bank of Canada overnight rate - April 2014

Bank of Canada today announced that it will maintain the key interest rate at 1% till first week of June.

The bank expects that the economic conditions will improve in near future and slowly inflation will head North.

For now housing is still in a very tricky state. Slowly the household debt level is cooling off but any economic degradation may render it vulnerable again.

Keeping all the important factors in mind the Bank did not see any immediate reason to change the rate. Therefore the rate will hold at 1% (Bank prime is still at 3% too) till situation changes.