Tuesday, April 17, 2012

Canada's Interest Rates remain unchanged at 1 per cent

The Bank of Canada has left the key overnight interest rate unchanged at one per cent, but signals to remove monetary stimulus may become appropriate.  It is also signals that interest rate may rise by the end of the year.

What should we do with the low interest rate environment but anticipate interest rate interest.  If you have variable rate, you should consider to pay off as fast as it can.  Keep the fixed rate mortgage as it will not change the rate during the length of the contract.

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