Bank of Canada changes rate

*** The author of this blog, Ben Officer, is a licensed REALTOR® in the province of Alberta. The opinions expressed within this blog are those of the author and are simply that, opinions. The views expressed in this blog are not intended to advise you, as your needs may differ depending on your particular situation. The information provided in this blog is not guaranteed to be accurate and is subject to change at any time. For legal advice/information, please consult a lawyer. For mortgage advice/information, please contact a licensed Mortgage Associate. For tax advice/information, please consult an accountant. For investment advice/information, please contact a financial advisor. *** Blog Disclaimer - The information contained within this blog and posted by the author is believed to be true but cannot be guaranteed to be so. The author of this blog takes absolutely no responsibility for the comments posted by third parties on this blog.

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Wednesday, October 8, 2008

Bank of Canada changes rate

by Ben Officer on Wed, Oct, 8, 2008 01:42 PM

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To-day the Bank of Canada lowered it's short-term borrowing rate by 0.5% to help stimulate the economy. A host of major central banks did this at the same time around the world. Good news, I think.

Here in Edmonton there has been a small jump in buyers trying to close purchases before the deadline for 100% financing and/or 40 year amortization mortgages.

The number of home and condo listings has been trending down. The market is changing somewhat. I just don't know yet whether prices will soften some more or stabilize. Time will tell.

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Edmonton, St Albert, & Area RE/MAX Real Estate Professional

Ben Officer, CD REALTOR®

Bank of Canada changes rate

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