‘It’s the lowest we’ve ever been’ — mortgage rates drop through the floor with some as low as 1.65%
When Canadians shut their doors against COVID-19 last March, the Bank of Canada had set interest rates at a record low.
Banks didn’t immediately pass along those better rates though and consumers, stuck at home pondering their financial prospects, were surprised to find that the lower cost of borrowing didn’t necessarily apply to them early in the crisis.
Original Article Source Credits: The Star , https://www.thestar.com/
Article Written By: Tess Kalinowski
Original Article Posted on: Aug. 7, 2020