No surprise as the Bank of Canada left it’s key interest rate at 1% today. What did raise a few eyebrows was BMO once again lowering it’s 5-year fixed rate to 2.99% and slashing their 10-year mortgage to just 3.99% – something no Big 5 bank had done until now (Not completely unheard of though. ING had already been offering a 3.99% 10-year fixed)
It should be noted those rates from BMO are for amortizations of 25 years. Is this preemptive of any changes Mr. Flaherty will announce at the end of the month? Only a few more weeks until we find out.
Back to Calgary… Sales for the first week of March were down slightly year-over-year:
New Listings (compared to March 1-7, 2011)
- SFH new listings were down -14.33% (568 , 663)
- Apt-condo new listings were down by only 1 (152, 153)
- Townhouse-condo new listings down -14.14% (85, 99)
For more information, visit my Calgary real estate statistics page