The Bank of Canada is once more keeping its key policy rate unchanged, although continuing to indicate that rates will move higher at some particular point. The Bank’s statement noted that in Canada “although underlying momentum appears a touch softer than previously anticipated, the speed of economic growth is anticipated to pick up through 2013,” and that “it is too early to determine whether the moderation in housing activity and credit expansion will be sustained.” .
The prime rate for most lenders should stay at Three percent, precisely where it has been for at least Two years.
The Bank’s next rate call is booked for Jan Twenty-three.
As for fixed rates, we continue enjoying traditionally low rates for those wanting to purchase or refinance.