1.877.891.9168

Archive for the Interest Rates Category

Still Time to Deal with High-Interest Debt: Bank of Canada Maintains Interest Rate for March 2019

Still Time to Deal with High-Interest Debt: Bank of Canada Maintains Interest Rate for March 2019

The Bank of Canada is keeping interest rates the same for another month. On March 6, 2019, the Bank of Canada (BOC) announced it would be maintaining the current 1.75% interest rate. This rate has been in place since October of 2018. Part of the BOC’s reasoning…

Read more

Bank of Canada Interest Rate Staying at 1.75% for January 2019

Bank of Canada Interest Rate Staying at 1.75% for January 2019

If your New Year’s resolution is to get out of debt, good news: the Bank of Canada interest rate is staying the same for the time being. On January 9, 2019, the Bank of Canada (BOC) announced they would not be changing the rate from its current…

Read more

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…

Read more

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…

Read more

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…

Read more

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…

Read more

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…

Read more

Interest Rates May Be Going Up – Time to Get Your Financial House in Order

Interest Rates May Be Going Up – Time to Get Your Financial House in Order

Back in April, despite suggestions of an increase, the Bank of Canada chose to keep Canadian interest rates steady at 0.5%. However, even with this decision, economists still believe that a hike is coming – probably in early 2018. So, how would you fare if interest rates…

Read more

Twitter

Prudent Financial Services

Business Hours

Monday to Friday
9am - 5pm

Saturday
9am - 1pm

Sunday
CLOSED

Serving the GTA since 1984

Toronto
Etobicoke
Scarborough
Mississauga
North York
Brampton
Ajax
Barrie