Bank of Canada lowers key interest rate by 0.75% | General comparisons | Discussion forum

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Bank of Canada lowers key interest rate by 0.75%
December 9, 2008
12:00 pm
Peter
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Savers cry, those with variable rate mortgages rejoice:

http://www.canada.com/topics/n.....id=1051922

December 9, 2008
5:33 pm
Max
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I think I should buy a new house right now

The day you become free is the day you work for fun.

December 10, 2008
12:46 am
Peter
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Banks don't fully pass on rate cuts for mortgages:

http://www.thestar.com/Busines.....cle/551153

It remains to be seen whether the banks will hit savers with the full rate cut...

December 10, 2008
9:59 pm
Doug
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Yes, it will definitely be interesting.

I tend to think, having just lowered interest rates on savings accounts, they will stay the same for another month and then go down by either a quarter or a half percentage point.

Cheers,
Doug

March 3, 2009
5:44 pm
Peter
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Here we go again, another 0.5% rate cut to the key interest rate to a record low of 0.5%:

http://news.yahoo.com/s/afp/20.....0303173852

March 5, 2009
9:12 am
financier
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what ever cut bank of canada is doing, not much benefit for present buyers as no bank offering any variable rates with prime less, but you have very good prime plus, so i think if someone buys home thinking prime rate, they r in trouble.

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