Blair Smith, Vancouver Realtor. "...The.BS.Report..."

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Banks drop rates, but I STILL recommend a mortgage broker.

Big banks slash prime lending rates to 3% 3:17pm

Source: The Vancouver Sun

While Washington and the world parties......

OTTAWA — Canada's big banks, amid warnings of further economic deterioration and below-zero inflation, wasted little time Tuesday in passing on the full measure of the latest interest-rate relief from the Bank of Canada.

___________________________

Canada's largest banks follow the Bank of Canada by slashing residentail mortage rates further just hours ago.
I would still recommend consulting a mortgage broker to further negotiate on your behalf. An experienced broker will know where to best plave you, and will help negotiate favourable terms and conditions -even with your own bank!
Consider refinancing. Even paying a penalty may be wise to consolidate your debt at this time. I would be pleased to refer you to several brokers that "get the job done"! -Blair

Published Tuesday, January 20, 2009 3:28 PM by Blair Smith

Filed under: Real Estate, Market Conditions, Announcements, Finances, Buyer Information, First time home Buyer

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