BOC drops prime lending rate 0.25%

    Borrowing just became easier for Canadians as the Bank of Canada dropped its key lending rate by 0.25% this morning in response to falling oil prices.  This is great news for anyone planning to buy or trade up this year as their newer, more expensive properties will be more affordable with less buying pressure than we saw in 2014.    It’s also great news for real estate investors as rents are staying flat (so far) and now mortgages will be cheaper.

    Check out the CTV news link on the announcement below.

    http://www.ctvnews.ca/business/key-interest-rate-unexpectedly-lowered-1.2198493 

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