Well I thought my predictions would be better than they are. Bank of Canada went down and most lenders went down with it. As of April 1st most of the Canadian Lenders will drop their prime to 2.5% All of those people who got adjustable rate mortgages at Prime -.90% are laughing all the way to the bank to pay thier rediculously low mortgage. I didn't see this drop happening so soon and now I am baffled by what could happen in June when the next meeting occurs. This is truly a buyers market with this low interest rate, it's truly the time if you are waiting to pick up a home for a great deal and purchase it when the interest rates are great.
With this drop I am going to predict that in June that it will stay the same. But who knows. Anyone else out there got some ideas let me know.
Lynn Meldrum
Verico Canada First Mortgage
403-554-9142
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