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Interest Hate Hike

Blog by Claire LeLacheur | March 30th, 2010

Two major Canadian Banks announced this morning that they are raising the interest rates. To date only TD Canada Trust and the Royal Bank of Canada have done this but the other major Canadian banks are expected to follow in their footsteps.

It would suggest that the interest rate honeymoon we have been experiencing for the last months is over.  Like any good marriage, real life now begins. What we can expect to see is more normal market activity, with more normal interest rates. And like any good marriage, don't expect any fireworks any time soon.

If you want to take advantage, of the old interest rate, you must put the pedal to the metal, because you have a very limited time to buy, and good inventory will get snapped up quickly.

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