by Prudent Financial Services | Mar 6, 2019 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Consumer Debt, Interest Rates, Prudent Financial
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 had to...
by Prudent Financial Services | Jan 10, 2019 | Bank of Canada Interest Rate, Getting Out of Debt, Interest Rates
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 1.75% standing this...
by Prudent Financial Services | Dec 6, 2018 | Bank of Canada Interest Rate, Canadian Interest Rate, Holiday Spending, Interest Rates, Personal Loan
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 hold...
by Prudent Financial Services | Nov 7, 2018 | Bank of Canada Interest Rate, Canadian Interest Rate, Home Equity Financing, Home Equity Loan, Home Equity Personal Loan, Interest Rates, Mortgage Closing Costs, Mortgage Financing, Mortgage Refinancing, New Mortgage Rules
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 things you’ll...
by Prudent Financial Services | Oct 25, 2018 | Bank of Canada Interest Rate, Canadian Interest Rate, Credit Card Debt, Interest Rates
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 1.5%. Although...
by Prudent Financial Services | Jul 12, 2018 | Bank of Canada Interest Rate, Canadian Interest Rate, Interest Rates
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 increased steadily to the...