Canadian lending rate near zero. at least it’s a good time to have a variable rate mortgage.
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this post was added on tuesday march 3rd 2009 around 8am. it was added to the link category and was tagged: canada, economy, money
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The prime lending rate is 3% at most banks still though. Not that 3% isn’t wicked low.
Maybe their websites aren’t updated but Reuters said they all did (though I don’t see BNS in there).
I’ll have to wait and see if I get a letter from them letting me know my mortgage payments are now lower. Looks like they updated their rates March 4th, so my next payment might be the one that is different. I think the rate on my mortgage is 1.65% now. Holy shit.