The Bank of Canada is once more keeping its key policy rate unvaried, though continuing to signal that rates will move higher at some point. The Bank's statement noted that in Canada "although underlying momentum appears slightly softer than previously expected, the pace of economic expansion is expected to pick up in 2013," and that "it is too early to ascertain whether the moderation in housing activity and credit growth will be sustained." .
The prime rate for most lenders should stay at Three percent, exactly where it's been for more than 2 years.
The Bank's next rate call is scheduled for Jan Twenty-three.
As for fixed rates, we carry on enjoying traditionally low rates for those wishing to purchase or refinance.
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