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Bank Of Canada Benchmark Rate Remains The Same

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The latest rate setting by the Bank of Canada, once again, maintained the benchmark at 1%. It has been there for two years, the longest run ever without a change. Still, Governor Mark Carney continued to express the Bank’s desire to move rates up as soon as possible. That position seemed to take another hit when the Chairman of the U.S. Federal Reserve indicated The Fed was prepared to hold its borrowing rate at 0.75% to 2015 if necessary.

Now a new report from Moody’s Analytics is bolstering Carney’s cause. It says Canada could move on rates well before the end of next year. The sister company to global ratings agency points to Canada’s GDP growth being broadly in line with projections; the fact that Canadians appear to be reducing their debt levels; and the housing and building markets appear to be cooling. All of these contribute to an environment that would allow for a gradual increase in rates, that wouldn’t shock the economy.

Bad Credit Mortgage Broker – Refinancing with Bad Credit In Vancouver BC

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Most people that call a Mortgage Broker with a bad credit mortgage questions are doing so because they have went through something or many things that has left them in a position where their bank has said no. First thing you should do is call me or any mortgage broker to get a free assessment of your financial position. A good mortgage broker should be able to asses a plan of action which could include obtaining a 2nd mortgage or refinancing your current mortgage with a B-Lender or lastly a new 1st private mortgage lender.