bank prime rate

What BoC rate cut means for mortgage rates

What the Bank of Canada rate cut means for mortgages, consumer loans and investments

June 5, 2024 1 Comment

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75%, the first cut in more than four years. Here’s what it could mean for your finances.

Tiff Macklem on June Bank of Canada rate cut

Is today’s Bank of Canada rate cut “one and done” for now?

June 5, 2024 No Comments

Variable-rate borrowers finally got their wish of a Bank of Canada rate cut today. But how long could they be waiting until the next?

More borrowers to reach their trigger rate as prime rate rises to 5.95%

October 26, 2022 No Comments

More variable-rate borrowers are expected to reach their trigger point as prime rate rises another 50 bps.

Borrower worried about rising variable rates

Variable Mortgage Rates to Rise as Prime Rate Jumps to 3.20%

April 13, 2022 2 Comments

Variable-rate mortgage holders are about to see their interest costs rise again after Canada’s Big 5 banks announced a 50-basis-point hike to prime rate on Wednesday.

Prime Follows BoC Overnight Rate Up

July 13, 2017 2 Comments

It’s official: hundreds of thousands of Canadians will be paying higher interest rates as early as today. After two years stuck at just 0.50%, the

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