For the 11th straight Bank of Canada meeting the key interest rate has been kept at 1%. Below is a story from the Financial Post:
 
Best be getting used to this: Mark Carney, governor of the Bank of Canada, has again maintained interest rates at 1% and remains on track to not budge from that position any time soon as upside and downside risks remain balanced amid moderating growth.

TORONTO - The Canadian dollar gave up early gains and moved lower after the Bank of Canada's announced it was leaving interest rates unchanged and warned of the negative effects of a rising currency.
The loonie was 0.12 of a cent lower to 102.82 cents US after the central bank announced its decision to keep the key interest rate at one per cent.
 

By The Canadian Press
OTTAWA - Canada's national housing agency says the pace of new-home construction will stabilize in 2011 and 2012 after trending lower at the end of last year.
 
Canada Mortgage and Housing Corp.'s predicts between 157,000 and 192,000 new housing units will be built this year, with the number remaining virtually the same in 2012. In its first quarter housing market outlook, released Thursday, it said economic growth and lower unemployment will prop up the need for new homes.
 

For a limited time Stewart Mortgage Corp. is offering a Free* trip for 2 to Las Vegas with every Mortgage that is Approved and Funded. 

Stewart Mortgage Corp. has been in business in Kamloops for over 28 years and we strive to provide you the best service and get you the best rates, we work for you not the Banks. 

Some of our specialties are: 

As expected, the Bank of Canada announced today that they are maintaining its target for the overnight rate at one per cent. This is great news for Variable rate borrowers:

 
Here is an article with more info from CMP:
 

For the second time in the last twelve months Finance Minister Jim Flaherty has announced that the Federal Government is tightening mortgage rules.

There are three main changes in the new rules announced today, amortizations on insured loans will be lowered from 35 years down to 30 years; the amount you can refinance your home for has come down to 85% from 90%; and the government will no longer insure home equity lines of credit (HELOC’s).

Today at the Bank of Canada's meeting they have decided to maintain their overnight rate at 1.00% meaning that the Prime Rate will be staying at 3.00% for the time being. Also at today's meeting they have downgraded it's econimic forecast for 2010 and 2011 due to a weaker than expected U.S. Economy. The next Bank of Canada meeting is scheduled for December 7, 2010 so we will see what things look like closer to then, but maybe prime will stay where it is for a little longer.
 

As expected the Bank of Canada has made it's third straight rate increase to their benchmark rate by another 0.25%, the new benchmark rate will now be 1.00%.  In turn with all of the benchmark increases the banks and other lenders will be raising their prime lending rate to 3.00%.
 
Our 3 year fixed rate is starting to look very nice at 2.90%, ask me how you can save thousands of dollars in interest and shave thousands off of your principle balance with this rate.
 
Here is a full article from the financial post for the full story.

Stewart Mortgage Corp. will be hosting a booth at the Kamloops Chamber of Commerce social & mini trade show happening on September 1, 2010 at St. Andrews on the square. Come by and check us out as well as all of the other great booths that will be there, entry is free for all Kamloops Chamber of Commerce members and $5.00 for non members.

Hopefully everyone is enjoying the hot Kamloops summer. Stewart Mortgage Corp. has some great new fixed rates to announce effective immediatley.
 
Our 3 year fixed has dropped down from 3.44% to a great low of 2.90%. If you are looking for a low rate and don't want to gamble on a variable this 3 year fixed rate is a great alternative.
 
We also had our 5 year fixed at 3.89% and it has just dropped down to 3.85% this morning.