Greetings to all and a warm Welcome to New Subscribers. As fall is fast approaching and we all get back into the full swing of things, I hope you all had a relaxing summer. I wanted to get the late breaking news out to you all. Interest rates take a slight increase today. The Bank of Canada raised the prime lending rate slightly. All of us enjoying the low variables will notice a small increase in our monthly payments in the coming months. The fixed interest rates remain well above where the variable interest products come in at. I hope this newsletter finds you all well and getting set for an awesome few months. Central bank raises key interest rate OTTAWA (CP) - The Bank of Canada is raising its key overnight interest rate to 2.75 per cent from 2.5 per cent, citing lower-than-expected inflation and higher-than-expected growth. The increase was quickly reflected by major banks. It was the first increase since October 2004 and came amid worries about the impact of hurricane Katrina and soaring energy prices. The bank said the hurricane's overall impact on the Canadian economy will likely be modest, although it forecast a spike in inflation because of higher prices for gasoline and heating fuel. "Despite developments associated with higher energy prices, risks to the bank's outlook for the Canadian economy through 2006 still appear to be reasonably balanced," the rate announcement said. With the economy working close to its capacity and inflation, especially the core rate, still modest, the bank said the rate increase will help promote a balance between supply and demand and control inflation. The Royal Bank immediately raised its prime rate to 4.5 per cent from 4.25 per cent and other banks were expected to follow. The increase had been widely expected, although some economists wondered if the bank might hold off while it assessed Katrina's impact. The Canadian Labour Congress had urged the central bank to hold off because of skyrocketing energy prices. How the Lenders Manage Mortgage Rates and Products is another intersting article relating to what triggers mortgage rate increases and decreases. (September 9, 2005) Today’s ProLink Interest Rates on First Mortgages are as follows: Rates are subject to change without notice. Description Pro Link Rate 5 Year Variable 1.740% 6 Month Closed 3.9% 1 Year Closed 3.9% 2 Year Closed 4.05% 3 Year Closed 4.250% 4 Year Closed 4.35% 5 Year Closed 4.49% 7 Year Closed 4.65% 10 Year Closed 4.92% 15 Year Closed 5.25% 18 Year Closed 5.47% 25 Year Closed 5.47% I trust this information will come in handy and help you to stay informed. I will continue to update you on the Market and where things are going. One Small Saving on your Interest Rate will be worth Thousands! in the Long Term. Feel Free to call anytime… Regards, Dan Heon ProLink Mortgage & Financial Corp. Phone:   403-257-1801 Fax:   403-206-7622 Toll Free:    1-888-281-0111 Email: ProLink@telus.net The best way to thank your Mortgage Broker is tell others about your Savings and Service. Home Newsletters