By Gina Burgio
(VERICO Designer Mortgages Inc.)
The Bank of Canada cut its lending rate today by half point to 0.50%, the lowest level ever. The decrease was inline with most economists expectations. Various Canadian Banks followed this announcement by cutting their Prime Rate by 0.50% to 2.50%. The Bank of Canada also stated that its latest projections for the Canadian economy now look optimistic in the light of the latest economic data. Gina Burgio, Mortgage Agent FSCO Lic. No. M08008590VERICO Designer Mortgages Inc.FSCO Lic. No. 10194 Toll Free: 1-877-345-6265 Fax: 1-877-345-6256 Email: firstname.lastname@example.org Each VERICO Broker is an independent owner operator.