Posts tagged prime rate
Canadian Banks raise Prime .25%, Are all rates about to raise ?
Jun 3rd
That’s right Canada, the Bank of Canada decided that June 1st 2010 was a good time to increase the Prime rate from 2.25% to 2.5%.
To quickly define, here are the main points:
- only effect those with Variable Rate Mortgages
- average payment will increase $22 / Monthly
- Prime More >
How long will "prime rate" stay at 2.25% ?
Sep 1st
Despite growing confidence that economic growth is in the offing, monetary policy around the world is likely to remain “ultra-accommodative,” perhaps until 2011, as doubt remains as to whether or not the growth expected this quarter is sustainable, analysts say. That is the view emerging following the weekend gathering of More >
With investments doing so poorly, would be to our benefit to pay down on our mortgage while we are below at such a low prime ?
Mar 24th
Michelle, Great way of thinking…. I suggest YES, figure out a comfortable payment (maybe check what the payment was back when you signed up) and ask your lender (bank) to “hold the payment” at that comfort zone. HEADS UP THOUGH…. I just called my bank to do the same, and More >
