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...

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Interest Rate Sign

Bank of Canada Raises Rates... Again!

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

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Fixed vs. Variable Mortgage Rates

A comparison and Q&A of how to choose between a fixed or a variable mortgage rate.

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