You have likely heard a lot of talk about your “trigger rate” and “trigger points”. How will another Prime Increase affect your mortgage?
Everything you need to know about Trigger Rates.
Increasing interest rates are pushing most borrowers closer to their trigger rate – a level at which their regular monthly payments will not be sufficient to cover the interest.
July 13th Rate Announcement: Bank of Canada increases the Prime Rate rate by 1%.
With recent Bank of Canada interest rate hikes, here is what you need to know about how these fiscal policy changes affect your mortgage. First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage.
Bank of Canada Business Outlook and Consumer Expectations Surveys | Q2 – 2022
Every Quarter, the Bank of Canada releases its Business Outlook Survey and Consumer Expectations Survey to analyze Canadian businesses and individuals’ general perceptions and current operations. The two combined allow the Bank of Canada to forecast future market trends and gather a broad range of economic perspectives. Below, find the … Read More
Bank of Canada Increases the Prime Rate to 3.7%
The Bank of Canada (BoC) has once again raised the Prime Rate by 50 basis points, or 0.5%, bringing the current Canadian Prime Rate as of June 1st, 2022 to 3.7%.
The Latest Bank of Canada Rate Increase and its Effects on Housing Affordability.
The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1.25% and the deposit rate at 1%. Housing affordability has been a long-run Canadian concern. Since its last announcement in March, the Bank continues to set its course for increased Quantitative … Read More