Tuesday, April 25, 2006

The Bank Of Canada Raised Rates To Control Inflation

Another interest rate hike has occurred in Canada. Prime rate at the major banks is now 5.75 percent. The Bank of Canada raised rates to control inflation. If you are in the market for a mortgage your home just cost you thousands more. We currently have rising home prices and rising interest rates, but the experts say "the bubble will not burst". Most real estate speculators still maintain there is no housing bubble. I guess only time will tell.

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