Rate Announcement July 12, 2023
The Bank of Canada announced its latest interest rate decision this morning, along with new economic projections. Unsurprisingly, the benchmark rate increased a quarter percent, […]
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Rate Announcement June 7, 2023
After hitting pause on rates, the Bank of Canada decided to increase their overnight target rate today to 4.75 percent from 4.5 percent. The prime […]
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Rate Announcement April 12, 2023
On April 12, 2023, the Bank of Canada announced that it would maintain its key interest rate. The overnight target rate remains at 4.5%, keeping […]
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Rate Announcement March 8, 2023
For the first time in a year, the Bank of Canada has left its overnight target rate unchanged. The overnight target rate remains at 4.5%, […]
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Rate Announcement January 25, 2023
The Bank of Canada has raised its overnight target rate by 25 basis points, bringing it to 4.50%. This will drive the prime rate to […]
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June 1, 2021: New Mortgage Stress Test
It came as a surprise yesterday to hear that the minimum qualifying rate for ALL (insured & uninsured) mortgages will increase on June 1st. The […]
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