prime rate Archives - Mortgage Rates & Mortgage Broker News in Canada

Prime rate falls to 6.70%, making variable rate mortgages more attractive

July 24, 2024 No Comments

Variable-rate mortgage holders received positive news on Wednesday as major lenders reduced their prime rate following the Bank of Canada’s rate cut earlier in the day.

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?

Tiff Macklem, Governor of the Bank of Canada

Was this the Bank of Canada’s last rate hike?

December 7, 2022 No Comments

Despite delivering a half-point interest rate hike at its final rate decision meeting of 2022, the Bank of Canada offered borrowers a glimmer of hope that this could be among its last.

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.

Prime rate rises to 5.45% following the BoC’s 75-bps rate hike

September 7, 2022 No Comments

Variable-rate mortgage holders will see their interest costs rise once again starting on Thursday as prime rate rises to 5.45%.

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.

The Big 5 Banks Raise Prime Rate to 2.70%

March 2, 2022 No Comments

Canada’s prime rate will be rising to 2.70% as of Thursday, after the Big 5 banks confirmed they will be hiking their respective prime rates by 25 basis points.

Canada’s Prime Rate Falls to 3.45% Following BoC Rate Cut

March 5, 2020 1 Comment

Canada’s prime rate fell to 3.45% today for the first time since July 2018. This is good news for floating-rate mortgage holders and those with

Bank of canada expected to deliver surprise rate cut this week

BoC Increasingly Likely to Deliver a Surprise Rate Cut This Week

March 2, 2020 No Comments

Growing fallout from the coronavirus—including tanking stock markets and falling oil prices—means the Bank of Canada is increasingly likely to cut interest rates this week.

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