Bank of Canada has lowered its overnight
rate. Prime is now at 5.25% - a 50 bp decrease. The significance of
the decrease is the increment amount - not since November 2001 has
the Bank of Canada lowered its overnight rate by more than 25 bps
(when the US was last in a recession).
Although Canada remains economically healthy - the 50 bp decrease
in prime sparks increasing concern over the US economy and its
effect on Canada. Core inflation in Canada remains below target
which provides the Bank of Canada with "breathing room" to protect
us against further downside risks. (Additional 50 bp decrease may
come when Bank of Canada meets again in April).
Stay tuned.
Thursday, 17 May 2012
Green Hosting
Corporate Office
#308 - 15252 32nd Avenue
South Surrey, BC V3S 0R7
Telephone: 604.536.3802
(For all correspondence)
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About Dreyer Group
Dreyer Group is a member of the VERICO mortgage brokers network. We can help anyone nationwide, but we primarily serve BC residents in the lower mainland including Surrey, South Surrey, White Rock, Langley, Delta, Vancouver, North Vancouver, West Vancouver, Burnaby, New Westminster and Coquitlam. Dreyer Group Mortgages can provide mortgage solutions to US residents, non-residents, new immigrants and the rest of Canada. No matter where our clients are located, we are committed to providing the best mortgage rates and options in the marketplace.
About Verico
VERICO is a national mortgage brokers network. As an assembly of independently owned and operated mortgage brokers, VERICO brokers are comprised of the most trusted mortgage professionals in Canada that adhere to the highest standards of service based on professionalism, expertise and ethics. The VERICO Mortgage Network includes over 40 of Canada's most respected mortgage lenders and insurance suppliers.
