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Archive for the Mortgage Interest Rate Category

The Bank of Canada Interest Rate is Staying the Same for the Rest of 2019

The Bank of Canada Interest Rate is Staying the Same for the Rest of 2019

Start Your New Year’s Financial Planning Early! The Bank of Canada interest rate is officially staying at 1.75% for the rest of the year. On December 4, 2019, the Bank of Canada (BOC) announced the interest rate would remain the same for another month. This marks no…

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One Year of No Change to Canadian Interest Rate: What It Means for Your Finances

One Year of No Change to Canadian Interest Rate: What It Means for Your Finances

The Canadian interest rate has officially gone one year without any change. On October 30, 2019, the Bank of Canada (BOC) announced the Canadian interest rate will stay at 1.75% for another month. This rate was set on October 24, 2018, marking one year of holds. While…

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Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you…

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