VARIABLE RATES UP BY 0.25% AND COULD BE THE LAST The Bank of Canada (BOC) changed it’s overnight rate to 4.50% this morning, an increase of 0.25% bringing prime rate with most lenders to 6.70%. Today’s announcement came with a notable statement: “If economic developments evolve broadly in line with the MPR outlook, Governing Council expects to hold the policy rate …
Another 0.50% Increase – Fixed Rates Down
VARIABLE RATES UP BY 0.50% The Bank of Canada (BOC) changed it’s overnight rate to 4.25% this morning, an increase of 0.50% bringing prime rate with most lenders to 6.45%. Today’s announcement came with a notable statement: “Looking ahead, Governing Council will be considering whether the policy interest rate needs to rise further to bring supply and demand back into …
Is This The Last Rate Increase?
Bank of Canada Increases Rates by 0.50% The Bank of Canada (BOC) changed it’s overnight rate to 3.75%, an increase of 0.50% bringing prime rate with most lenders to 5.95%. Read the full Bank of Canada announcement HERE Are interest rates going to go down? Here’s a video recorded September 15th discussing: Click here for Video Since then inflation hasn’t …
Understanding Today’s Rate Increase
Bank of Canada Increases Rates by 0.75% The Bank of Canada (BOC) changed it’s overnight rate to 3.25%, an increase of 0.75% bringing prime rate with most lenders to 5.45%. The BOC is on a mission to curb inflation and had the following to say to justify the increase: “The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war …
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation in Canada is higher and more persistent than the Bank expected in its April Monetary Policy Report (MPR), and will likely remain around 8% …
Rates up again, more hikes to come?
Bank of Canada Increases Rates by 0.50% Variable Rates will see an additional increase of 0.50% This morning the Bank of Canada (BOC) changed it’s overnight rate to 1.50%, an increase of 0.50%. This is the 3rd straight increase in as many meeting and brings prime rate to 3.70%. For variable mortgage (and line of credit/loan) holders, this will increase …
What a 0.50% Rate Increase Means to U
Variable Rates will see an increase of 0.50% in the coming days This morning the Bank of Canada (BOC) increased it’s overnight rate by 0.50%. For variable mortgage (and line of credit/loan) holders, this will increase their current rates by 0.50% in the coming days. This will increase borrowers payments. APPROXIMATE INCREASE IN MONTHLY MORTGAGE PAYMENT PER $100,000: $25/monthly (Payment difference …
0.25% Rate Increase by the Bank of Canada
Bank Of Canada Rate Increases Rates, Increasing Mortgage Variable Rates By 0.25% THEY DID IT… The Bank of Canada increased it’s overnight rate this morning by 0.25%. This is the first increase since 2018 and will increase variable mortgage (and line of credit/loan) rates. Prime rate is now 2.70% (up from 2.45%) with most lenders. For those on existing variable …
Rates Rising & What To Condsider
First Bank Of Canada Rate Increase Expected in 5 Weeks 3, 2, 1, LIFTOFF… It is no longer a question of IF rates will rise, it is now a question of when and how fast. This morning the Bank of Canada (BOC) announced it’s keeping interest rates the same but changed it’s tone about future rate increases saying: “With overall economic slack …
BOC Economic Bandage Continues
Overnight interest rates were held again today by the Bank of Canada (BOC) as was the Quantitative Easing program of $2 billion in purchases per week. The BOC states: “The global economic recovery continued through the second quarter, led by strong US growth, and had solid momentum heading into the third quarter. However, supply chain disruptions are restraining activity in …