WOW - Emergency Bank of Canada Announcement - another 0.50% DROP

[sabad66]

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Who is that with? I didn't get the prime minus 1 offering because I did a re-fi, what I got was the best option at the time but I haven't signed the papers yet today......

It's with a lender called Canadiana Financial. I signed up with them on the original mortgage in May 2015 and they emailed me Friday with these renewal offers. I wonder if they offer these better rates since now there is no broker involved to take a cut on a renewal if you sign up with teh same lender?

I would actually be interested in a re-fi as i have some consumer debt i'd like to roll onto it, but unfortunately with the drop in values in calgary i don't think i have enough equity any more (i believe you need 20% or more for a re-fi).

[JRSC00LUDE]

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that's where im at. I'm on another 4 years of variable - 1.05 (at TD, so -.95)..

Granted my financial knowledge is quite limited but with the Fed basically going full in unlimited on bond purchases, is that going to make the prime drop more or get steady?