So finally the banks/Mortgage Lenders dropped there prime rate by .15% but not the full .25% which The Bank of Canada did on Monday. As of today we have received notice from half of the lenders of this .15% reduction in prime however we do expect all the lenders to follow suit. For existing variable mortgage holders your current rate will be reduced and you will receive notice from your lender.
For new mortgages going forward rates will now be .15% lower.
For further information please contact
Robert Clancy, AMP,
VERICO Safebridge Mortgage Solutions
SAFEBRIDGE Financial Group
Tel: 416 899-1467
Fax: 1866 385-4049