Prime rate

The Bank of Canada has hiked its trend-setting interest rate once again, bringing the benchmark Overnight Lending Rate up by 0.25% to a full …

Check out our most recent post: Renewing your mortgage in 2024? What are your options? There’s no doubt about it – those coming up for a mortgage …

Rumour has it mortgage rates could be going up. The Bank of Canada (BoC) has dropped some hints a hike to the overnight rate (the main policy interest rate in Canada) could be coming. The overnight … Read More

In a previous post, we looked at the relationship between the prime rate and savings account interest rates. But what about the linkage between the prime rate and GIC rates?

You can be forgiven if you’re a bit confused by all the different interest rates that get quoted in the news. There are long-term bond rates, short-term bond rates, posted mortgage rates, and savings account rates, … Read More

When preparing to get a mortgage, many people wonder how changes to the prime rate will affect their mortgage payment.