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 […]
Read moreTag: Variable Rate Mortgage
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 […]
Read more
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%, […]
Read more
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 […]
Read more
Rate Announcement December 7, 2022
On Dec 7, 2022, the Bank of Canada made another increase to the policy interest rate. Prime went up another half a percent, bringing the […]
Read more
What to Do With Your Variable-Rate
The Bank of Canada has made six increases to the policy interest rate over the past year. Prime went up another 0.5%, in October, bringing […]
Read more
Rate Announcement October 26, 2022
As expected, the Bank of Canada made another increase to the policy interest rate last week. Prime went up another 0.5%, bringing the prime lending […]
Read more
Rate Announcement September 7, 2022
The Bank of Canada delivered the fifth consecutive interest-rate hike to slow Canada’s economy and drag inflation down. The key rate increased by 0.75 percent, […]
Read more
Bank of Canada Rate Increase
The Bank of Canada has increased their overnight rate by a full percent, to 2.50% from 1.50%. The rate increase was to be expected, but […]
Read more
How are Mortgage Rates Calculated?
You may have heard that mortgage rates are on the rise. This impacts new home buyers, homeowners with mortgage renewals, and those who have a […]
Read more