In case you missed it while we in London Ontario where digging out from the snow storm. The Bank of Canada meet Tuesday morning and decided to leave interest rates unchanged. The Banks key lending rate is still 1% thus there is no pressure on lenders to increase there rates. I has been expected for along time that the bank would continue to rate raises from the 0.25% that we started with in January 2010.

This is good news for London Ontario Home and condo buyers who are looking at getting a new mortgage or current borrowers with variable rate loans or loans coming up for renewal. As the cost of borrowing money will not continue to increase from these lows. Although it must be remembered that even when the bank does increase interest rates in the future money for now is historically cheap to get.

If you are interested in a 3 bedroom condo for sale in London Ontario be sure to join my free weekly list of these types of homes for sale in London.

Kathy Mendham-Meathrel
Sales Representative
Realty Executives Elite Ltd. Brokerage
London Ontario Real Estate Agents
7-515 Wellington Road South
London Ontario
N6C 4R3
(519) 649-6900