Prime Rate Remains at 4.75% - Dreyer Group Mortgages Update
June 10th, 2008 - The Bank of Canada announced this morning that it will leave its key interest rate the same.
With the key interest rate unchanged, Lenders are expected to hold their Prime Rate at 4.75%. Variable-rate mortgages and home equity lines of credit are generally linked to the Prime Rate and continue to be a favourable option as interest rates remain low.
Below is Bank of Canada Rate Chart from 1975 to 2008 Illustrating Rates
Continue to be At Historical Lows Comparatively.
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