The Bank of Canada just announced it’s holding the overnight rate at 2.75%, keeping most lenders’ prime rate unchanged at 4.95%. This was a cautious move as the BoC monitors inflation, trade uncertainty, and a softening labour market. With unemployment rising to 6.9%, consumer confidence dipping, and housing activity slowing, the Bank is treading carefully […]
Yearly Archives: 2025
7 posts
The Bank of Canada (BoC) announced this morning that it is holding its overnight policy rate at 2.75%. As a result, most lenders’ prime lending rate will remain at 4.95%. This marks a pause in what had been a steady trend of rate cuts earlier this year. Why the Pause? While inflation […]
If your mortgage term is coming to an end this year, you’re not alone – millions of Canadians are in the same boat. With interest rates higher than they were five years ago, it’s more important than ever to explore all your options before signing a renewal. Here’s a quick […]
As we continue through the first quarter of 2025, the financial landscape has evolved significantly, influenced by the Bank of Canada’s latest decision to lower the overnight rate to 2.75%. This move, aimed at bolstering economic resilience amidst escalating trade tensions, has brought the prime lending rate down to 4.95%, […]
Recent developments have led to significant changes in the trade landscape that may impact the Canadian economy and mortgage rates. On February 1, 2025, U.S. President Donald Trump announced the imposition of a 25% tariff on imports from Canada, with a 10% tariff specifically on Canadian energy resources. However, after […]
Happy New Year! As 2025 begins, we’ve received some encouraging news from the Bank of Canada—a reduction in the overnight rate to 3% and an end to the practice of selling off assets, known as quantitative tightening. These steps aim to strengthen our economy and make borrowing more affordable. Impact […]
As we step into 2025, I wanted to provide you with an update on the current state of fixed and variable mortgage rates, along with some predictions for the years ahead. Whether you’re considering a new mortgage, refinancing, or simply staying informed, this information will help you make better financial […]
