The Bank of Canada cut its benchmark interest rate on Tuesday by a half-percentage point to 3 percent, as expected, and signaled that further easing was required but suggested it might pause before cutting again.
First time buyer's, those re-mortgaging and those still considering adding to their mortgage amounts will all feel some ease this morning.
More cuts (believe it or not) are expected by BOC after a short pause to see the end affect of this current stimulus to consumer and corporate spending.