Bank of Canada Cuts Interest Rate to 3.5%

The Bank of Canada has cut the target for it's overnight lending rate by half a percentage point today to 3.5%. The banks have already started to respond by matching the BOC's cut with a cut in their own prime lending rates -- down to approx 5.25%

If you are looking at purchasing property here on Pender, this should get your juices flowing, as every small decrease in interest rates brings about big savings for home buyers.

Visit the Bank of Canada press release for more information.

For more about Pender Island real estate, visit Howard Sanders online @ www.HomesOnPender.com

Contact info:

•           Email:  Howard@HomesOnPender.com

•           Cell:  (250) 222-HOME (4663)

Best Regards,

Howard on Pender