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Prime Rate Update - June 10

Created: 12 June 2008
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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.