Prime rate increase by major banks [3.45%]

Posted on January 19/2018 by

Prime rate increase by major banks to 3.45%, in relation to the recent key interest rate increase. The Bank of Canada raised the policy interest rate a quarter of a per cent on Wednesday. The third key rate increase in under a year, after a lengthy record low. A move by the national bank in light of a growing and healthy Canadian economy. The key rate, policy interest rate, is determined by the Bank of Canada.

Prime rate increase as Canadian banks skyscrapping in downtown Toronto's financial district
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Key interest rate increase by Bank of Canada

Posted on January 17/2018 by
Key interest rate increase by Bank of Canada

The Bank of Canada raised its key interest rate today by a quarter of a per cent. BoC increased the rate to 1.25% from 1.00%. This is the third key interest rate increase in under a year.

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Mortgage rules squeeze Canada’s real estate markets into hot...

Posted on January 15/2018 by
Toronto single detahced homes

Canadian real estate ended 2017 strong as buyers rushed to beat the New Year’s coming mortgage rules. New mortgage rules were announced in the fourth quarter of 2017 in October.

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Standard rate hike likely next Wednesday

Posted on January 10/2018 by
Rate hike coming next week by the Bank of Canada

The Bank of Canada (BoC) will likely raise interest rates next Wednesday. This would be BoC’s third interest rate hike in less than a year.

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New mortgage rules [2018] Toronto real estate’s “real...

Posted on January 08/2018 by
new mortgage rules 2018

New mortgage rules hit the Canadian market on New Year’s day. The Office of the Superintendent of Financial Institutions (OFSI) implemented the new rules, which were detailed in an official report in Fall 2017.

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