WOW - Emergency Bank of Canada Announcement - another 0.50% DROP
The Bank of Canada on Friday delivered an emergency rate cut, slashing its main rate by half a percentage point to 0.75%. The move follows a half-point cut at the bank's regular policy meeting on March 4.
The BIG question now is what will the lenders do? Will they pass on the full discount and lower Prime from 3.45% to 2.95%?
HEADS UP - lenders are already starting to adjust the discounts. We have seen a couple of lenders go from -1.00% to -0.80% the last couple of days. If you are interested in variable... give us a call or email.
Tim
403-479-0066
tim@timlacroix.com