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We are on our Way Down!
 June 5 2024     Posted by Mary Poburan



       Ok by now you've seen this all of over your news feed....What does this mean? Prime should follow suit and drop from a whopping high of 7.2% to a rate of 6.95%. What does it NOT mean? We will not necessarily see fixed rates move in the same proportion of a .25% rate drop. Fixed rates are not directly correlated to the movement in Prime and are more sensitive to what is happening in the Canadian Bond Market. Let's see what happens in the next day or two. It's not a huge cut but....it appears we are on our way down from the top of the roller coaster! Hold on...let's hope its a fast ride down!


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