FW: Interest rate announcement and Monetary Policy Report / Taux directeur et Rapport sur la politique monétaire

 

Unsubscribe from email alerts / Se désabonner du service de messagerie électronique   JUST RELEASED / MAINTENANT DISPONIBLE La version française suit le texte anglais. FOR IMMEDIATE RELEASE Bank of Canada lowers overnight rate target to 1/2 per cent The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Monetary Policy Report - July 2015 Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017. The Press Release and the Report are now available on the Bank of Canada's website. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ POUR PUBLICATION IMMÉDIATE La Banque du Canada abaisse le taux cible du financement à un jour pour le ramener à 1/2 % La Banque du Canada a annoncé aujourd'hui qu'elle abaisse le taux cible du financement à un jour de un quart de point de pourcentage pour le ramener à 1/2 %. Le taux officiel d'escompte s'établit donc à 3/4 %, et le taux de rémunération des dépôts, à 1/4 %. Rapport sur la politique monétaire - Juillet 2015 La croissance économique au Canada devrait s'établir en moyenne à un peu plus de 1 % en 2015 et à environ 2 1/2 % en 2016 et en 2017. Le communiqué et le Rapport sont maintenant disponibles dans le site Web de la Banque du Canada. Unsubscribe from email alerts / Se désabonner du service de messagerie électronique 234, avenue Laurier Ouest Ottawa ON K1A 0G9 234 Laurier Avenue West Ottawa ON K1A 0G9

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Bank Of Canada Announcement

 

As you know, your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate and at 10:00 am EST, Wednesday July 16th, 2014 the Bank of Canada again did what we expected them to do … they continue to maintain their overnight rate and in fact are not likely to make any change until possibly  2016 now!  What this means to you is that once again the prime rate on your mortgage, line of credit or student loan will not change and remains at 3.00%.  This is fabulous news but are you still making the most of the low payments you have! If you have any high interest credit card debt that you can’t pay off in full each month, it might be a good time for us to chat about a possible debt consolidation into your mortgage to save you some unnecessary interest… get a clear financial outlook void of expensive debt and start your summer off right and debt free!  The Bank of Canada said “the global economy is on a lower growth track than was foreseen”  so  they will continue to wait and see economic growth continue on a more upward direction before increasing rates. Fixed rates haven’t changed much at all since the last announcement and are around 2.99% to 3.09% for a five year fixed term. The next announcement on any change to the prime rate is September 3rd, 2014 at which time I’ll be in touch again. I wonder if I can ask a favour – this is a great time for first time home buyers who are thinking of purchasing to start with a pre-approval plan now to get them on track and save unnecessary interest.  It is advisable to start planning ahead and I would be happy to provide an idea of closing costs and monthly budget payments to start those that you know on the path to home ownership.  Also, if you hear a friend or family member talk about going thru a financially tough time – maybe I can help with some budgeting, credit counselling and debt consolidation options for them.  In either of these cases, would you mind passing my contact information on to them – this is very much appreciated. Regards, Lisette Amalfi Mortgage Broker FSCO Brokerage #10928 1-877-529-1199 (905) 529-1199 lamalfi@mortgagealliance.com http://www.mortgagealliance.com/LisetteAmalfi

 

 

 

 

 

 

 

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