Langley, White Rock and Surrey Real Estate - Bank of Canada Has Cut Rates to Virtually Zero to Stimulate Economy

Buyers and Sellers, take a good look at this great opportunity you have,  I have just received great news in the form of affordability for buyers.  With interest rates getting slashed to stimulate the economy, how can you go wrong with buying your first home or upgrading to the home of your dreams.

Here is an article hot off the press from The Canadian Press.

OTTAWA — The Bank of Canada slashed its key short-term interest rate about as low as it can go Tuesday and said it may have to resort to extraordinary measures to stimulate the economy which, it acknowledged for the first time, is unlikely to recover this year.

The lower prime rate, which falls to 2.50 per cent on Wednesday, will benefit some mortgage holders...

...Royal Bank (TSX:RY), Bank of Montreal (TSX:BMO), TD Bank (TSX:TD), CIBC (TSX:CM) and Scotiabank (TSX:BNS) announced that they would cut their prime rates by half a percentage point, in step with the central bank.

...The federal budget, yet to make its way through Parliament, offers $750 in tax relief for first-time home buyers while increasing the limit that can be withdrawn from RRSPs for a down payment by $5,000.

Buyers, if you are renting and paying huge payments, consider looking at a change in your lifestyle and own a piece of Canadian property, a home that you can call Your Home.  Pride of ownership hasn't been better with these great lower interest rates.  While the economy is in it's Doom and Gloom, pick up a great deal on property.  There are Sellers out there that want you to negotiate a good deal.

For all your real estate needs, contact me at your earliest convenience, I can help.

Warmest Regards,

Andrew Szalontai - It's all about service
Langley Realtor   -   778.862.5542
andrew@YourPerfectHome.ca
Remax Treeland Realty