News Bank of Canada Raises Rate by 100 bps The Bank of Canada raised its key lending rate by 100 basis points this morning, bringing it to 2.50%. The Bank said inflation is “higher and more persistent” than what it had forecast in April, and will likely remain...
News Banking Regulator making some changes to Home Equity Lines of Credit Last week, Canada’s banking regulator unveiled new rules that will govern how borrowers may use Home Equity Lines of Credit (HELOCs). The new guidelines unveiled by the Office of the...
News Your Mortgage Renewal Questions Answered Many homeowners dread mortgage renewal time, especially when interest rates are rising as they are today. It means you’ll likely be resetting your mortgage at a higher rate, with higher monthly payments. But as always, you...
News Bank of Canada Raises Rate by 50 bps As expected, the Bank of Canada has raised its key lending rate by 50 basis points, bringing it to 1.50%. In its statement accompanying the decision, the Bank said, “the risk of elevated inflation becoming entrenched has...
News Breaking News: Bank of Canada Raises Rate by 50 bps The Bank of Canada has just raised its key lending rate by 50 basis points, bringing it to 1.00%. This marks the second change to the Bank’s overnight target rate this year and the first 50-bps rate hike...
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