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What will happen with Canadian Mortgage Interest Rates? What is your best lowest mortgage rate?

The Bank of Canada rates are expected to remain low and could dip again as the government works hard to limit the negative impact the US recession has on Canada. The lending Prime Rate is related to the Bank of Canada overnight lending rates. This continues to be good news for variable rate mortgage holders and for clients looking to obtain mortgage financing at the lowest mortgage rates. We do see a competitive downturn in the fixed rates in the foreseeable future as well. With the presidential elections now over, we expect things will settle down and mortgage rates to remain low for some time.