bank-of-canada

Bank of Canada lowers overnight rate target AGAIN, to 1/4% (.25%)

Hey everyone!  Since the start of the Covid-19 crisis, this has been an absolutely crazy year for all of us, including everyone involved in the financial sector. Canada's central bank has continued to drop it's policy rate as the crisis has evolved, in hopes of mitigating some of the economic destruction this crisis and lockdown has caused. They've now reached an 'overnight rate' of just 0.25%. This is the rate that influences the 'Prime Rate' that banks offer their customers for...

Read More

Bank of Canada lowers overnight rate target to ¾ percent

Well that was unexpected... Here we go again!  Here's the highlights: For everyone wondering how this will impact current mortgage rates, here's the highlights: This is ANOTHER 0 .5% drop to the bank of Canada's 'overnight rate'. The 'overnight rate' is a rate that is used to influence bank's/lender's 'Prime Rate', which is used to calculate variable mortgage rates. Because the bank's 'Prime Rate(s)' will likely drop AGAIN (read: should drop), we will see that...

Read More
Interest Rate Sign

Bank of Canada Raises Rates... Again!

October 24 2018. Bank of Canada raises overnight rate again, leading to prime rate increases.

Read More

Guest Post: If one things for certain, it's uncertainty

A guest post from First National Financial, discussing current economics and the likelihood (or unlikelihood) of a Bank of Canada rate hike this coming July 2018.

Read More

Bank of Canada Rate Update - April 18, 2018

As widely anticipated by economists, the Bank of Canada (BoC) has left its trendsetting policy rate at 1.25 per cent. Canada's central bank, however, expressed optimism about the economy picking up some speed in the April-to-June period after growth slowed down to 1.3 per cent in the first three months of ...

Read More