hold your breath for interest rates! Bank of Canada to decide on increasing interest rates tomorrow!

Canada's economy grew at an annualized rate of 6.1 per cent in the first quarter, the largest quarterly increase in more than a decade.

Statistics Canada said Canada's gross domestic product increased by 1.5 per cent in 2010's first quarter, over the final quarter of last year.

The strong numbers for Canada's GDP surpassed even the most rosy of estimates from economists.

Canada's economy grew at a rate that doubled the United States' first quarter rate of 3.0 per cent.

All that said and done, will the Bank of Canada decide to raise the prime interest rate June 1? Most likely. Be prepared as many economists are predicting a 70% chance of a rate hike of about 0.5% with more to come.

"It would take some fancy footwork for the Bank of Canada to pass on hiking rates tomorrow after the Canadian economy just doubled the U.S. quarter-one growth pace," Scotiabank economists Derek Holt and Karen Cordes Woods wrote in a note. "This is the strongest growth pace witnessed since 1999 and it is the latest evidence of how the Canadian economy and Canadian markets are outperforming much of the rest of the industrialized world."

Stay tuned next week for the early edition of Junes Newsletter that will have a lot more details on the economic impact of B.O.C. decision on rates and the weeks to come

If you are considering BUYING or SELLING a home, Call me today (403) 608-2191 to get the best rates backed by qualified mortgage professionals or find out what your home is worth and how my advanced home marketing services can get you the MOST MONEY FOR YOUR HOME!.

JUNE 1, 2010 -BIG NEWS! The Bank of Canada will most likely choose this date to raise the prime interest rate which will have an impact on all mortgage products, especially those with variable mortgages. To find out how this will affect you, please contact me asap!

JUNE 20, 2010 - FATHERS DAY! - Spend some time with your Papa's and

JUNE 21, 2010 - SUMMER is back... let's hope for more SIZZLE and less Drizzle!

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