Kitsilano Condo

Kitsilano Real Estate Update - Key interest rate to stay at 1 percent : Good news for homebuyers

The Bank of Canada (BOC) announced yesterday that the key interest rate will remain at 1 percent – for now.  Analysts believe it will stay that way until at least the spring of 2011 and the Canadian economy shows more signs of stable economic growth.

This is good news for potential  Kitsilano condo buyers as it should keep interest rates provided by lenders close to current low levels for the next few months. As of this week 5 year fixed rates can be found as low as 3.45 percent for those that qualify.