The Bank of Canada announced on July 12th that its overnight lending rate will increase to 5.00%. The Canadian economy has been stronger than originally expected, with more momentum in demand. CPI inflation is forecast to hover around 3% for the next year before gradually declining to 2% in the middle of 2025. The prime rate […]
The Bank of Canada announced on March 8th that its overnight lending rate will remain at 4.50%. This was the first hold-still since they started increasing rates a year ago. Inflation has started to inch lower. Latest data remains in line with the expectation that inflation will come down to around 3% in the middle of […]
The Bank of Canada announced on March 8th that its overnight lending rate will remain at 4.50%. This was the first hold-still since they started increasing rates a year ago. Inflation has started to inch lower. Latest data remains in line with the expectation that inflation will come down to around 3% in the middle of […]
September 11th, 2018 Mortgage Industry Update The Bank of Canada announced on September 5th that it’s overnight lending rate will remain at 1.50%. The prime rate thus remains 3.70%. Good news for variable rate mortgage holders as they can expect no changes to their rates! The common prediction currently stands at another rate increase for […]
May 15th, 2018 Mortgage Industry Update The Bank of Canada announced on April 18th that it’s overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate has officially increased with the Bank of Canada from 5.14% to 5.34%. Fixed rates are stabilizing from […]
September 5th, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it’s overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates now remain stable. Additionally this week: – Stats Can: […]
August 8th, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it’s overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates have slightly risen over the last 3 weeks and […]
May 9th, 2017 Mortgage Industry Update The Bank of Canada announced on April 12th that it’s overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: – Federation of Rental-housing Providers of Ontario […]
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