As written by Sean Rankin In the realm of mortgages, every fluctuation in the economy, particularly concerning interest rates, holds significant weight. As the financial landscape continues to evolve, so too does the mortgage market. Today, we delve into the recent decision by the Bank of Canada to maintain its key interest rate at 5% […]
As written by Sean Rankin In a key decision on December 6, 2023, the Bank of Canada, under Governor Tiff Macklem, opted to keep the overnight interest rate steady at 5%. This move, aligning with the predictions of economists and market trends, comes in response to signs of a slowing economy and increasing unemployment rates. […]
Bank of Canada’s Overnight Rate On September 8, the Bank of Canada maintained its target for the overnight benchmark rate at 0.25% The Bank of Canada announced that it will continue to hold its key interest rate target at 0.25%, unchanged since March 2020 when a trio of rate cuts were implemented to boost the economy in light […]
