Rate Prediction for Wed, Sept. 7th, 2011 BofC Meeting

On Wednesday the Bank of Canada meets again to discuss what the monetary policy will be for the next few months. During this meeting, the overnight lending rate is also set. The last meeting kept the rate unchanged at 1%, with signs that it would be going up shorty to cool off a hot real estate market and rising consumer debt.

Over the past few days weak economic numbers and a 0.1% GDP decrease in the second quarter have lead economists to predict rates will remain the same. I agree, especially since uncertainty in Europe, poor US job report, hurricane Irene, and Japanesse earthquake recovery have contributed to overall world economic troubles. This is great news for anyone who has a variable interest rate on their mortgage, line of credit, or student loan. While major banks like RBC and TD have raised their variable rates, not all lenders have followed.  Great variable rates are still available, for more information give me a call at 416 909 5044.


About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
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