Bank of Canada expected to Lower Interest Rates

By
Mortgage and Lending with VERICO Designer Mortgages Inc.

Bank of Canada has hinted that they may cut interest rates again.

Early today in Toronto, Bank of Canada Senior Deputy Governor Paul Jenkins stated, "Some further monetary stimulus will likely be required to achieve our 2 percent inflation target over the medium term."

The Cdn Central Bank cut its benchmark overnight lending rate to 2.25 percent on Oct. 21.

Some economists expect that the Bank of Canada will cut their overnight rate a half point to 1.75 percent on Dec. 9. This would be the lowest since 1960.

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Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

Each VERICO Broker is an independent owner operator.

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  1. Toronto For Sale By Owner 11/13/2008 01:43 AM
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Rainmaker
996,054
Karen Anne Stone
Fort Worth Real Estate
New Home Hunters of Fort Worth and Tarrant County

Gina:  Lowering interest rates is a good thing.  So... question:  When are they going to start handing out free samples ?

November 13, 2008 12:35 AM
Rainmaker
328,811
Steven Nickens
R(S)GRI ABR, Maui Real Estate Hawaii
Island Sotheby's International Realty

Aloha Gina,

I heard that Europe is doing the same.  I heard this will help the American dollar.

Steve

November 13, 2008 01:01 AM
Rainmaker
742,132
Michael A. Caruso
Surterre Properties

This is a good thing.  We need a worldwide effort for stimulus to stem off the potential for a depression.

November 13, 2008 01:06 AM
Ambassador
1,320,122
Richard Iarossi
Crofton MD Real Estate, Annapolis MD Real Estate
Coldwell Banker Residential Brokerage

Gina,  Looks like the Bank of England is going one better.  They're considering lowering interest rates to zero.

November 13, 2008 06:35 AM
Anonymous
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Rainer
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Gina Burgio

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