Bank of Canada Archives | The Mortgage Centre

April 16, 2025May 15, 2025Mortgage News Canada, Variable-Rate

April 16, 2025 Bank of Canada Rate Announcement

After seven straight rate cuts, the Bank of Canada kept its key interest rate steady at 2.75%. While the prime lending rate—which impacts variable-rate mortgages, […]

March 12, 2025Mortgage News Canada, Mortgage Rates, Variable-Rate

March 12, 2025 Bank of Canada Rate Announcement

The Bank of Canada’s rate announcement confirms a reduction in its key interest rate to 2.75%, while the prime lending rate—which impacts variable-rate mortgages, […]

January 29, 2025Interest Rates, Mortgage News Canada, Variable-Rate

January 29, 2025 Bank of Canada Rate Announcement

The Bank of Canada has lowered its key interest rate by 0.25% as of January 2025, bringing it down to 3%. As a result, Canada’s […]

September 4, 2024September 4, 2024Interest Rates, Mortgage News Canada, Mortgage Rates, Variable-Rate

September 4, 2024 Bank of Canada Rate Announcement

As anticipated by many, the Bank of Canada lowered its benchmark interest rate by 0.25%, bringing it to 4.25%. The prime lending rate is now […]

July 24, 2024September 4, 2024Interest Rates, Mortgage News Canada, Mortgage Rates, Variable-Rate

July 24, 2024 Bank of Canada Rate Announcement

The Bank of Canada lowered its benchmark interest rate to 4.50% today, which was expected. The prime lending rate is now 6.7%, putting us back […]

June 5, 2024June 6, 2024Mortgage News Canada, Mortgage Rates, Variable-Rate

June 5, 2024 Bank of Canada Rate Announcement

Variable-rate mortgage holders are celebrating, having awaited this day since the first rate hike 27 months ago. The overnight target rate was cut to 4.75%, […]

March 6, 2024Interest Rates, Mortgage News Canada, Variable-Rate

March 6, 2024 Bank of Canada Rate Announcement

Borrowers can relax a little regarding today’s Bank of Canada’s rate announcement. The overnight target rate stayed unchanged at 5.00%. The Bank of Canada is […]