Mortgage Logic

Month: March 2020

Unscheduled Bank of Canada Rate Cut – Response to Covid-19 Pandemic, March 13, 2020

The Bank of Canada (BoC) just announced an unscheduled Key Rate cut of 0.5% (one half of one percent) in response to the anticipated drag on the economy that will be caused by the Corona Virus (Covid-19). This should immediately affect major FI’s (financial institutions’) Prime rate(s) of interest offered for lending purposes. The new …

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