B of C Interest Rate Update

Sunny and cold in Victoria today, feels like snow is on the way...

Quick update on interest rates... B of C held steady earlier this week and with most signs pointing to a sluggish "Possible" recovery in the US and the strength in the Canadian Dollar the most likely scenario for interest rates in Canada is "Status Quo" for the foreseeable future. This implies the best mortgage strategy continues to be a variable rate, (Prime - .25% Residential, Prime + 1.25% Commercial) with a lender who has a competitive 5 year fixed rate (imho).

Canada Bonds
5 yr - 2.47%
10yr - 3.32%

Cheers,

D

View all of my commercial real estate listings on-line at www.naivictoria.ca