Bank of Canada Mortgage Interest Rate Outlook on Tuesday October 19, 2010.

Just a 30 second note on the rate outlook after the Bank of Canada announcement on Tuesday Oct. 19, 2010.


  • Prime rate is staying put (3%), the next meeting December 7 th (expectation is Prime will remain unchanged into 2011)
  • Bank of Canada expects growth to be slow globally (meaning rates will remain low in Canada)
  • Inflation is below projections, another indicator of low rates for quite some time.


If you are in a variable mortgage, keep smiling!  If you are in a fixed mortgage, it may be well worth it to move into a variable or even another fixed rate mortgage for a shorter term (1 – 3yrs, instead of 5). Speak to a Mortgage Professional for details.

Alex Macale

Alex Macale

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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