When prime rate goes down, this usually affects other loan rates as well. Meaning, borrowing money will cost you less! 

If you have a variable rate mortgage, loan, or line of credit, you will benefit in one of two ways:

•  Either your regular payment will decrease, or;

• More of your payment will be directed toward your principal, meaning you could pay off your mortgage/loan/line of credit faster than in a higher rate environment.

If you have been thinking of borrowing money for something, now is the time to give us a call at 3069753280. In the meantime be sure to check out our lending options.