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Tag: Prime Rate

The Bank of Canada's Big Rate Drop – How does this affect you?

By Lisa Denyer, AMPIn UncategorizedPosted 2020-03-09

Part One - THE BENCHMARK RATE  Last week, the Bank of Canada ( BoC) dropped their prime rate to 3.45% from 3.95%, the first rate cut since October 2018.   Everyone by now has heard that news, but what does this mean to you? I’m creating a series of posts to...

Tags: Benchmark, BoC, FTHB, Industry Changes, Prime Rate, Refinance
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    The Bank of Canada holds interest rates as expecte The Bank of Canada holds interest rates as expected, thank goodness! There has been a lot of pressure on the Bank of Canada to hold rates at today's meeting. Inflation is hovering around 3% and although not at the target rate of 2%, it is expected that rates will hold now until early 2024.
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