Mortgage Blog

Bank of Canada Rate Announcement - March 8, 2023

March 8, 2023 | Posted by: Ken Fadel

As predicted, the BoC today held its target for the overnight rate at 4.50%. This is the first break in rate increases since March of last year. The global economy has evolved broadly in line w ...

Bank of Canada Rate Announcement - January 25, 2023

January 25, 2023 | Posted by: Ken Fadel

As was widely expected, the BoC has announced another 0.25% increase to its target for the overnight rate today. This is the eighth consecutive increase, though it may be the last for awhile.&nb ...

Bank of Canada Rate Announcement - December 7, 2022

December 7, 2022 | Posted by: Ken Fadel

The Bank of Canada announced another 50 bps hike to its benchmark rate today, raising the overnight rate to 4.25%. This latest hike sees the rate sitting at a level not seen since 2008. 20 ...

Bank of Canada Rate Announcement - October 26, 2022

October 26, 2022 | Posted by: Ken Fadel

The BoC has announced a further 50 bps hike to its benchmark rate today, marking a sixth consecutive increase as it continues to aggressively target inflationary pressures. The rate now sits at ...

Bank of Canada Rate Announcement - September 7, 2022

September 7, 2022 | Posted by: Ken Fadel

As expected, the BoC today increased its target for the overnight rate 75 bps to 3.25%, the highest policy rate among major advanced economies. This marks the fifth consecutive rate hike by the ...

Bank of Canada Rate Announcement - July 13, 2022

July 13, 2022 | Posted by: Ken Fadel

The BoC raised its key policy interest rate a full percentage point this morning to 2.5%, the largest increase of this size since 1998. This is the fourth consecutive hike to the BoC’s ben ...

Bank of Canada Rate Announcement - June 1, 2022

June 1, 2022 | Posted by: Ken Fadel

To no one’s surprise, the BoC just increased it’s target benchmark rate 50 bps to 1.50%. While the 50-basis-point hike was expected, the language in the BoC’s statement suggest ...

Bank of Canada Rate Announcement - April 13, 2022

April 13, 2022 | Posted by: Ken Fadel

Earlier today as expected, the BoC took direct aim at inflation by increasing its benchmark overnight rate by 50 bps to 1.00%. This is the first time in 22 years that the overnight rate increased by 5 ...

Bank of Canada Rate Announcement - March 2, 2022

March 2, 2022 | Posted by: Ken Fadel

As widely expected, the BoC has announced a 25 bps increase to its benchmark interest rate, which now sits at 0.50%, marking the first time this rate has increased since 2018 and signalling the end of ...

Bank of Canada Rate Announcement - January 26, 2022

January 26, 2022 | Posted by: Ken Fadel

The BoC has once again left its benchmark policy rate unchanged at 0.25% in its first announcement of the year but also indicated that it would soon end its commitment to hold its policy rate at the e ...

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