FEDs Hold Interest Rate Cut
The Bank of Canada gave the market a surprise Tuesday as it left key interest rates unchanged –
many economists had thought they had another rate cut up their sleeve of .25%.
We have stagflation – a slowing economy & inflation tensions.
Customer confidence has fallen to a 6 year low, but on the other hand inflation pressures (from the rise of food and oil) are building. The slump in the U.S. has not been favorable to Canada but overall, global growth has been stronger than expected.
So really – it is good news. This means the Feds see the economy as strong enough not to need another rate cut.
Rates Effective June 10, 2008 Term | Architects Rate | Posted Mortgage Rates | 6 months | 6.20% | 6.21% | 1 year | 4.65% | 6.15% | 2 years | 5.30% | 6.15% | 3 years | 5.09% | 6.15% | 4 years | 5.40% | 6.59% | 5 years | 4.99% | 6.65% | 7 years | 5.85% | 7.40% | 10 years | 5.80% | 7.75% |
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For Full Details On All Products And Rates Contact:
Marvis L. Olson Ph: 403-620-8200 Fax: 1(866) 467-3877 marvis@telus.net www.mtgarc.ca/olson 2639 – 29th Street SW Calgary, AB T3E 2K6 |
Rates and terms are subject to purchaser/property qualification and may change without notice. Some conditions may a