Bank of Canada

Bank of Canada Rate Increase

The Bank of Canada raised rates for the 8th time since March 2022 this past Wednesday, January 26th by a ¼% which means that the Bank Prime rate is 6.7%. That is the highest level in 15 years! The BoC alludes to the fact that they will likely pause any further rate increases which I [...]

By Lotus Loans & Mortgage|2023-03-21T17:41:30+00:00January 27th, 2023|Mississauga Mortgage, Mortgage Rates|Comments Off

Bank of Canada Projected Rate Increase

The Bank of Canada has raised the Prime rate 7 times since March 2022, that is a whopping 4% in 9 months. The next BoC meeting is scheduled for next week January 25th. The good news is that inflation appears to be heading downward here and in the US but it may not be enough [...]

By Lotus Loans & Mortgage|2023-03-21T17:01:52+00:00January 20th, 2023|Mississauga Mortgage|Comments Off