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Archive for the Canadian Interest Rate Category

Good News for Holiday Shoppers: Canadian Interest Rates Staying Steady for December 2018

Good News for Holiday Shoppers: Canadian Interest Rates Staying Steady for December 2018

If you’ve been putting holiday purchases on your credit card, the latest Bank of Canada announcement will come as a relief – Canadian interest rates are staying at 1.75% for the rest of 2018. On December 5, 2018, the Bank of Canada (BOC) announced that it would…

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Financial Spotlight: Homeowners Currently in a 5-Year Fixed Mortgage and Preparing for a Higher-Rate Renewal

Financial Spotlight: Homeowners Currently in a 5-Year Fixed Mortgage and Preparing for a Higher-Rate Renewal

If you are in a 5-year fixed mortgage, it’s possible that you are up for renewal this year or in the very near future. Nearly 50% of Canadian homeowners will be renewing their mortgage between 2018 and 2020. If you are in this boat, there are several…

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Struggling with Interest Rate Debt? How to Cope with Latest Increase to 1.75%

Struggling with Interest Rate Debt? How to Cope with Latest Increase to 1.75%

The Bank of Canada (BOC) has increased interest rates again — this time to 1.75%, as of October 24, 2018. If you’re struggling with debt, this increase could have a big impact. The last interest rate increase was in July of 2018, when rates went up to…

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Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Good news for Canadian consumer debt — the Bank of Canada interest rate isn’t going up this month. On September 5, 2018, the Bank of Canada (BOC) announced interest rates will stay at 1.5% for the time being. The rate had increased from 1.25% to 1.5% in…

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The Canadian Interest Rate is Up to 1.5% After July 2018 Announcement

The Canadian Interest Rate is Up to 1.5% After July 2018 Announcement

The Canadian interest rate has risen again, going up to 1.5% as of July 11, 2018. The Bank of Canada (BOC) chose to raise rates for the fourth time in a year. The Canadian interest rate was 0.5% before July of 2017, but since then it has…

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The Bank of Canada Interest Rates Stayed the Same for May 2018, But You Still Need to Be Prepared for a Hike

The Bank of Canada Interest Rates Stayed the Same for May 2018, But You Still Need to Be Prepared for a Hike

The Bank of Canada interest rates remained at 1.25% following a scheduled announcement on May 30, 2018. The Bank of Canada (BOC) kept interest rates the same but warned that higher rates will be needed over time. Economists are predicting that higher rates could be coming into…

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Increasing Canadian Interest Rates – How to Avoid Rising Payments

Increasing Canadian Interest Rates – How to Avoid Rising Payments

There’s no doubt about it — Canadian interest rates are increasing. Since July of 2017, Canadian interest rates have increased three times, going from 0.5% to 1.25% — the highest they’ve been in nine years. And if trends continue as expected, this is just the start. Officials…

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BOC Interest Rate Up to 1.25%: What to Do If You’re Drowning in Debt

BOC Interest Rate Up to 1.25%: What to Do If You’re Drowning in Debt

We’re less than three weeks into 2018, but already we’ve got some big news: the Bank of Canada (BOC) interest rate has increased again. On January 17, 2018, the BOC interest rate rose to 1.25%. This is the highest it’s been in nine years, according to the…

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The Canadian Interest Rate Went Up – What Does That Mean to You?

The Canadian Interest Rate Went Up – What Does That Mean to You?

We’ve heard the warning for several months now: the economy is stabilizing, and Canadians have enjoyed an historically low interest rate for years, but a rate hike in inevitable. And, back in July, after months of speculation, the Bank of Canada finally raised the interest rate from…

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