{"id":35434,"date":"2015-07-15T13:01:39","date_gmt":"2015-07-15T17:01:39","guid":{"rendered":"http:\/\/www.northeastmortgages.ca\/?p=35434"},"modified":"2021-02-06T02:11:50","modified_gmt":"2021-02-06T01:11:50","slug":"bank-of-canada-cuts-interest-rate","status":"publish","type":"post","link":"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/","title":{"rendered":"Bank of Canada Cuts Interest Rate"},"content":{"rendered":"<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. <\/span><span style=\"vertical-align: inherit;\">However, we once again are seeing banks attempting to put money in their pockets by not following through with a full prime rate reduction. <\/span><span style=\"vertical-align: inherit;\">The current prime rate is sitting at 2.85% for most banks and TD has announced today that it will lower the prime rate by .10 bringing it down to 2.75%. <\/span><span style=\"vertical-align: inherit;\">If the banks had followed the rate reductions that the BOC has done this year the current prime rate should sit at 2.5%. <\/span><span style=\"vertical-align: inherit;\">However they have not, it remains to be seen if any of the other major banks decide to cut the prime rate down to what it should be but, in my opinion, it is not very likely.<\/span><\/span><\/p>\n<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The rate cut news has triggered the loony to lose ground against the US greenback. <\/span><span style=\"vertical-align: inherit;\">After today&#8217;s BoC announcement the loonie fell to 77.53 cents US, which is the lowest we have seen it since 2009.<\/span><\/span><\/p>\n<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Find out about Northeast Mortgage&#8217;s rates by clicking the following link:\u00a0 <a href=\"https:\/\/www.nordest.ca\/services.php\">https:\/\/www.nordest.ca\/services.php<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":35435,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"featured_image_urls":{"full":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png",800,575,false],"thumbnail":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-150x150.png",150,150,true],"medium":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-300x216.png",300,216,true],"medium_large":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-768x552.png",768,552,true],"large":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png",800,575,false],"1536x1536":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png",800,575,false],"2048x2048":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png",800,575,false],"post-thumbnail":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-150x108.png",150,108,true],"melissa-img-706-471":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-655x471.png",655,471,true],"melissa-img-706-auto":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015-706x507.png",706,507,true],"melissa-img-1200-auto":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png",800,575,false]},"post_excerpt_stackable":"<p>It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. However, we once again are seeing banks attempting to put money in their pockets by not following through with a full prime rate reduction. The current prime rate is sitting at 2.85% for most banks and TD has announced today that it will lower the prime rate by .10 bringing it down to 2.75%. If the banks had followed the rate reductions that the BOC has done this year the&hellip;<\/p>\n","category_list":"<a href=\"https:\/\/www.nordest.ca\/blogue\/en\/category\/taux-dinteret\/\" rel=\"category tag\">Taux d'int\u00e9r\u00eat<\/a>","author_info":{"name":"Terry Kilakos","url":"https:\/\/www.nordest.ca\/blogue\/en\/author\/hdgyye73sy\/"},"comments_num":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.6 (Yoast SEO v21.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of Canada Cuts Interest Rate - Good News for Mortgage Applicants<\/title>\n<meta name=\"description\" content=\"It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. However, we once again are seeing banks attempting to put money in their pockets by not following through with a full prime rate reduction. 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Click here to read more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog sur l&#039;immobilier et les pr\u00eats hypoth\u00e9caires- Nordest.ca\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NorthEastNordEst\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-15T17:01:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-06T01:11:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2015\/08\/cp-bank-key-overnight-rate-july2015.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"575\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Terry Kilakos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NorthEastFirm\" \/>\n<meta name=\"twitter:site\" content=\"@NorthEastFirm\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Terry Kilakos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/\"},\"author\":{\"name\":\"Terry Kilakos\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/#\/schema\/person\/4906244391456eadff10f8919b6fe474\"},\"headline\":\"Bank of Canada Cuts Interest Rate\",\"datePublished\":\"2015-07-15T17:01:39+00:00\",\"dateModified\":\"2021-02-06T01:11:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/\"},\"wordCount\":196,\"publisher\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/#organization\"},\"articleSection\":[\"Taux d'int\u00e9r\u00eat\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/\",\"url\":\"https:\/\/www.nordest.ca\/blogue\/en\/bank-of-canada-cuts-interest-rate\/\",\"name\":\"Bank of Canada Cuts Interest Rate - Good News for Mortgage Applicants\",\"isPartOf\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/#website\"},\"datePublished\":\"2015-07-15T17:01:39+00:00\",\"dateModified\":\"2021-02-06T01:11:50+00:00\",\"description\":\"It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. 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