Whether you are looking for the latest Bank of Canada rate announcement, up-to-date information on the mortgage industry or fun tips on how to add curb appeal to your home, our blog is the place for you. Be sure to check back weekly for the latest industry updates and most popular mortgage topics affecting Canadian home owners!

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Bank of Canada Announcement - December 4, 2019

December 4, 2019

The Bank of Canada opted to maintain their policy interest rate at 1.75 percent this morning, during their final rate announcement of 2019.

boc
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Bank of Canada Announcement - October 30, 2019

October 30, 2019

Although some were expecting a possible increase to the central bank’s key interest rate this morning, a weakened global outlook was a large factor in their decision to hold the rate steady at 1.75 percent today.

Bank of Canada Rate Announcement
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Bank of Canada Announcement - September 4, 2019

September 4, 2019

There was no change to the central bank’s benchmark interest rate this morning, which marks one year since an adjustment has been made. The decision to hold the rate steady at 1.75 percent came with a downgraded outlook from July’s Monetary Policy Report (MPR).

bank of canada announcement graphic
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Bank of Canada Announcement - July 10, 2019

July 10, 2019

Eight times per year, the Bank of Canada (BoC) makes an announcement about their base lending rate based on data they have assessed about the current state of the Canadian economy. Any change to this rate indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans.

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Rate Announcement - Bank of Canada May 29, 2019

May 29, 2019

Canada’s central bank opted to keep the benchmark interest rate at 1.75 percent today. This is great news for variable rate mortgage holders who will not see an increase in their mortgage payments as a result of today’s announcement.

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Bank of Canada Rate Announcement - April 24, 2019

April 24, 2019

As expected, the BoC held their key interest rate steady at 1.75 percent today. The bank had previously suggested that we could see some rate hikes in the near future, however talk of an impending increase was noticeably missing from their policy discussion today.

Bank of Canada
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Bank of Canada Rate Announcement - March 6, 2019

March 6, 2019

“Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report.” As a result, Canada will see a weaker first half than was projected by the bank in January.

Bank of Canada
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Bank of Canada Announcement - January 9, 2019

January 9, 2019

The Bank of Canada announced that their benchmark interest rate will remain unchanged this morning for the second time since the 0.25 point increase in October of 2018. Along with the rate announcement came a downgraded outlook for the Canadian economy this year, with the growth forecast dropping from 3.7 percent to 3.4 percent.

BoC
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Bank of Canada Announcement - December 5, 2018

December 5, 2018

The Bank of Canada has opted to maintain it’s benchmark interest rate at 1.75 percent today - but hinted at impending increases in the near future.

BOC
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Bank of Canada Announcement - October 24, 2018

October 24, 2018

The Bank of Canada announced an increase to their overnight lending rate this morning, up by 0.25 points to 1.75 percent. The highly anticipated move marks the third hike to the central Bank’s trendsetting rate this year, and the fifth increase since July 2017.

BOC
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Bank of Canada Announcement - September 5th, 2018

September 5, 2018

The Bank of Canada announced that the overnight rate will remain unchanged at 1.5 percent. This will keep the prime rate of 3.7% at most of the chartered banks. Everyone is now looking ahead to October, anticipating a third interest rate rise in 2018.

BOC
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Bank of Canada Announcement - July 11th, 2018

July 11, 2018

For the first time in six months, The Bank of Canada decided today to raise its benchmark interest rate from 1.25 percent to 1.50 percent as expected. The rate, which sets the trend for rates on mortgages and other loans, has not been this high since December 2008.

Bank of Canada Announcement - May 30, 2018
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Bank of Canada Announcement - May 30, 2018

May 30, 2018

The Bank of Canada kept its key interest rate unchanged but hinted that rate hikes would be happened in next rate announcement, as it noted the Canadian economy was a little stronger than expected in the first quarter.

Bank of Canada Announcement
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Bank of Canada Announcement - April 18, 2018

April 18, 2018

The Bank of Canada is maintaining its trend-setting interest rate at 1.25 percent today as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth. Read more about the announcement here...

Bank of Canada Announcement
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Bank of Canada Announcement - March 7, 2018

March 7, 2018

The Bank of Canada has opted to hold their benchmark interest rate at its current level at 1.25 percent today. Read more about the announcement here...

Bank of Canada
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Bank of Canada Announcement - January 17, 2018

January 17, 2018

The Bank of Canada is kicking off 2018 with by increasing its key interest rate by a quarter of a percentage point. What does this mean for you? Visit our blog where we break down the announcement and what to expect with the increase.

Bank of Canada
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Bank of Canada Announcement - December 6, 2017

December 6, 2017

The Bank of Canada has decided to keep its benchmark interest rate steady at 1 per cent following two straight hikes earlier this year.

Bank of Canada Announcement
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Bank of Canada Announcement - October 25, 2017

October 25, 2017

The Bank of Canada has decided to keep its benchmark interest rate steady at 1 per cent following two straight hikes earlier this year.

Bank of Canada Announcement
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Bank of Canada Announcement - September 6, 2017

September 6, 2017

The Bank of Canada increased their overnight lending rate for the second time in 2017 today. See what this means for your mortgage.

Bank of Canada Announcement
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Bank of Canada Announcement - July 12, 2017

July 12, 2017

The Bank of Canada increased their overnight lending rate for the first time in nearly 7 years today.

Bank of Canada
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Bank of Canada Announcement - May 24, 2017

May 25, 2017

Eight times per year, the Bank of Canada meets to determine what the base lending rate should be. Any change to this industry benchmark indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans.

Bank of Canada
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Bank of Canada Announcement - April 12, 2017

April 12, 2017

Eight times per year, the Bank of Canada meets to determine what the base lending rate should be. Any change to this industry benchmark indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans.

Bank of Canada Announcement
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Bank of Canada Announcement - March 1, 2017

March 1, 2017

Eight times per year, the Bank of Canada meets to determine what the base lending rate should be. Any change to this industry benchmark indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans.

Bank of Canada
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Bank of Canada Announcement - January 18, 2017

January 18, 2017

Eight times per year, the Bank of Canada meets to determine what the base lending rate should be. Any change to this industry benchmark indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans.

Interest Rate
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Bank of Canada Announcement

December 7, 2016

The Bank of Canada made its final interest rate announcement of 2016 this morning, opting to maintain the benchmark interest rate at 0.5 percent. The corresponding prime rate at most major Canadian lending institutions remains at 2.70 percent.

Bank of Canada Announcement
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Bank of Canada Announcement - October 19, 2016

October 20, 2016

Eight times a year, the Bank of Canada meets to determine what the base lending rate should be. Any change to this industry benchmark indicates a possible change to corresponding rates, such as interest rates for mortgages and additional types of consumer loans. This information is also a good indicator of the current status of the Canadian economy.

Bank of Canada
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Bank of Canada Announcement - September 2016

September 7, 2016

Today, the Bank of Canada made an announcement regarding their benchmark interest rate.

Bank of Canada Governor Stephen Poloz
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Bank of Canada Announcement - July 2016

July 13, 2016

See the impact of the Alberta wildfires on Canadian GDP and predictions for the remainder of 2016.

Bank of Canada Flags
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Bank of Canada Announcement - May 2016

May 25, 2016

Today, the Bank of Canada announced that they are holding their key interest rate steady at 0.5 percent, citing that the Fort McMurray wildfires will have a negative impact on GDP in the second quarter. The corresponding prime rate also remains unchanged at 2.70 percent.

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Bank of Canada Announcement - April 2016

April 13, 2016

Today, the Bank of Canada announced that it will maintain its overnight lending rate at 0.5 percent.

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Bank of Canada Announcement - March 2016

March 10, 2016

Yesterday, the Bank of Canada announced that they are maintaining their benchmark overnight lending rate at 0.5 percent, with a corresponding prime bank rate of 2.70 percent.

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Bank of Canada Announcement - January 2016

January 21, 2016

Yesterday, the Bank of Canada announced that they would be keeping its benchmark overnight lending rate at 0.5 per cent.

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Bank of Canada Announcement - December 2015

December 2, 2015

Today, the Bank of Canada has chosen to hold their key interest rate at 0.5 per cent for the third time in a row after dropping the rate twice in early 2015.

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Bank of Canada Announcement

October 21, 2015

Today, the Bank of Canada announced that it will be keeping its overnight lending rate at 0.5%, despite the impact of low oil prices on the Canadian economy.

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Bank of Canada Announcement

September 9, 2015

According to the Bank of Canada Governor Stephen Poloz, “economic activity continues to be underpinned by solid household spending and a firm recovery in the United States, with particular strength in the sectors of the U.S. economy that are important for Canadian exports.”

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Bank of Canada Announcement

July 15, 2015

Today, the Bank of Canada announced that they’ve lowered their key interest rate for the second time in 2015 – dropping from 0.75 percent to 0.5 percent. According to the BoC, “additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target.”

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Bank of Canada Announcement

May 27, 2015

Today, the BoC announced that the benchmark rate on overnight loans will remain at 0.75% – unchanged for the third time since a reduction in January of 2015. This translates to a rate of 2.85% at your local bank.

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Bank of Canada Recent Announcement

April 28, 2015

Today the Bank of Canada announced that they will keep the overnight lending interest rate at 0.75%; which will translate to 2.85% at your local bank.

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Bank of Canada Lowers Overnight Lending Rate

January 21, 2015

Eight times a year the Bank of Canada (BoC) meets to determine what the base lending interest rate should be. Any change to this rate influences rates such as Mortgages and other customer loans. It also is a good indicator for the current Canadian economy.

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Bank of Canada Rate Announcement

December 3, 2014

Eight times a year the Bank of Canada (BoC) meets to determine what the base lending interest rate should be. Any change to this rate influences rates such as Mortgages and other customer loans. It also is a good indicator for the current Canadian economy.

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Key TO a Successful Refinance

November 30, -0001

With Fixed Rates transgressing record territory, many existing Mortgage holders are wondering if they can benefit from the current low interest environment.