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- Aug 30, 2007
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Great news! The Bank of Canada lowered the Bank Rate yet again on April 22/08 by 0.5%, and the banks have already followed suit by lowering the Prime Rate to 4.75% effective APril 23/08.
To change the Prime Rate in REMA go to `My Preferences` in REMA and make the entry for the new Prime Rate. Just click on the Prime Rate button on the first screen in Preferences (titled System Preferences) then select the date the rate changed and enter the new rate, then click `Save Entry` and click `next` until you are in the last Preferences screen. Click `Save` on that last screen and you`re done.
REMA will now use this new Prime Rate in mortgage and Line of Credit interest and payment calculations.
To change the Prime Rate in REMA go to `My Preferences` in REMA and make the entry for the new Prime Rate. Just click on the Prime Rate button on the first screen in Preferences (titled System Preferences) then select the date the rate changed and enter the new rate, then click `Save Entry` and click `next` until you are in the last Preferences screen. Click `Save` on that last screen and you`re done.
REMA will now use this new Prime Rate in mortgage and Line of Credit interest and payment calculations.