Prime Mortgage Rate History
Historical prime mortgage rate (1935-2012)
The Prime rate is the basis for all variable mortgage rates in Canada. If prime increases, your mortgage rate increases.
Historical prime mortgage rate vs. overnight rate (2000-2012)
The prime rate is driven by the overnight rate as set by the Bank of Canada. The overnight rate is rate at which banks lend to each other.
Historical adjustment to prime rate (2006-2012)
Today variable mortgage rates are listed as Prime +/- a constant. This can either be a discount to prime or a premium. We have captured historical values for this adjustment to prime