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Originally Posted by Clarkey
Any predictions on the rate increase coming up?
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http://www.canadianmortgagetrends.co...ng-to-275.html
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Every last one of Canada's primary securities dealers is now predicting a 25 basis point hike this month, according to a Reuters poll on Friday. Not only that, but every single dealer also forecasts another rate increase in September.
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If the overnight rate does rise to 0.75% on July 20, prime rate will likely move to 2.75%. The last time prime was above 2.50% was February 2009.
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While economists and bankers usually all have their own theories/predictions that usually turn out to be as accurate as predicting a coin toss, when it comes to predicting rate hikes their track record is pretty good.