The Decision Not To Raise Rates Steady as she goes. That seems to be the Bank Of Canada’s motto as, for the first time in over a year, it’s keeping the benchmark interest rate unchanged. In fact, since June 2017 both the central and chartered banks have hiked their rates…
Tag: interest rates
Fixed Vs Variable Mortgages: Everything You Need To Know
Variable or Fixed Mortgage – Which Is Better? Since July 2017, the Bank of Canada has raised its key overnight rate four times. It currently stands at 1.5%, while the prime lending rate of big commercial banks is 3.70%. This has left many homeowners wondering which is better: fixed or…
Rising Interest Rates: Everything You Need To Know
Understanding The New Interest Rate Hike The Bank of Canada recently raised its key overnight rate by 25 basis points to 1.5%. Big banks like TD and BMO also followed suit, increasing their prime lending rate to 3.70% So how does this affect Toronto’s real estate market? The short answer: positively….