http://www.theglobeandmail.com/servlet/story/RTGAM.20060425.wboc0425/BNStory/Business/home


"The Bank of Canada raised its key lending rate to 4 per cent from 3.75 per cent, the sixth straight rate increase, and reiterated its statement that more modest increases may be needed."

This would increase the variable rate?

"The Canadian dollar neared a 14-year high after the announcement, trading at 88.31 cents (U.S) from yesterday's close of 88.03 cents."

DIO

This would increase the var rate?

Was that a question? If it was then yes as most likely the financial institution follows the suite and raise the institute's prime lending rate. This in turns increases your effective rate.

-Mercury

I am offered a rate of 5.10 by Royal bank. 5 years fixed closed. Is this a good deal mortgage?
Thanks

I would shop around. See what Scotia Bank can offer for new clients (if u r not already their client).

DIO