As largely expected the BoC kept the overnight and thus the prime rate steady at 1%. That leaves prime at 3% for now. There has been increased consensus that with the continued inflation pressure and slow steady recovery that the BoC will raise rates starting in one of the next two meetings. There have been some suggestions that it could rise by as much as 1.5%. I suspect 0.75 to 1% is more likely at this point.
Fixed rates remain stable and in the 3.79% to 4% range for the 5 year closed.
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