10/26/2022
CANADAS PRIME RATE HAS INCREASED ONCE AGAIN!
And here we go……
“The Bank of Canada has announced a further 50-basis-point hike to its benchmark rate, marking a sixth consecutive increase as the central bank continues its aggressive action aimed at cooling the economy and tamping down inflation.
The Bank revealed the decision after its policy rate meeting this morning, its second-to-last of the year, with that move meaning its trendsetting interest rate has now spiked by a massive 3.5% since March. “
What does this mean for you?
Well…if you have any credit products that involve a variable rate component (Mortgage, Line of Credit, HELOC or Home Equity Line of Credit) then your rate has gone UP.
How can we help with this situation??
Maybe let’s look at locking in a fixed rate for your mortgage.
Let’s look at refinancing your current mortgage to add your credit cards/line of credit into your mortgage.
The options may be somewhat endless, really.
So Let’s Talk, and see how I can help you manage todays increase of Prime rate (which does not directly impact the banks FIXED RATES) and save you some money.
403-837-7463
[email protected]
www.MtgFairy.com
