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View this RSS Feed2024-09-06 | 05:40:39
Interest Rate Update ~ September 2024
As widely speculated, the Bank of Canada lowered their overnight rate to 4.25% on Wednesday, and all of the retail banks dropped their Prime Rate to 6.45% in response. This is good news for Canadian borrowers as variable mortgage rates and home...
2024-06-11 | 10:25:16
Bank of Canada Rate Drop - What it Means to You
The Bank of Canada lowered it’s Overnight Rate last week by .25%, which has lead the retail banks to drop their ‘Prime Rate’ to 6.95%. How does this affect you? If you are on an adjustable rate mortgage where your payments fluctuate with any...
2024-04-11 | 11:28:12
Economic Update - April 2024
The Bank of Canada released their overnight interest rate decision earlier today and as expected, they have left it unchanged at 5.00%, which means that the majority of banks in Canada have their mortgage prime rate at 7.20%. The good news for...
2024-03-07 | 07:15:12
Update ~ March 2024
Yesterday The Bank of Canada held the overnight rate (which affects variable rate mortgages) at the current level, but there are clear signals that the two-year run of higher interest rates is nearing its end. Inflation figures have been receding to...
2023-03-08 | 12:59:31
Economic Update ~ March 2023
Today, the Bank of Canada followed through on their January promise to keep the Overnight Rate (and therefore the Prime Rate) unchanged for a period of time to give the last eight consecutive increases time to work their way through the economy. Most...
2022-12-07 | 10:10:30
Economic Update ~ December 2022
It is no secret to anyone reading this: The Bank of Canada is acting far more aggressively than anyone expected. Several unpredictable issues are at play: the war in Ukraine, supply chain issues worldwide, and good old corporate greed. Back on...
