Today, the Bank of Canada announced that it is NOT changing interest rates. The overnight rate remains at 2.25% The prime rate stays at 4.45% What does this mean for you? This decision affects variable and adjustable rate mortgages, as well as lines of credit. It does not affect fixed-rate mortgages at this time. How this impacts different products Home Equity Line of Credit (HELOC): HELOCs are typically priced at Prime + 0.50%, keeping the current rate at 4.95%. Variable / Adjustable Rate...

Today, the Bank of Canada announced that it is NOT changing interest rates. The overnight rate remains at 2.25% The prime rate stays at 4.45% What does this mean for you? This decision affects variable and adjustable rate mortgages, as well as lines of credit. It does not affect fixed-rate mortgages at this time. How this impacts different products Home Equity Line of Credit (HELOC): HELOCs are typically priced at Prime + 0.50% , keeping the current rate at 4.95% . Variable / Adjustable...

Today, the Bank of Canada announced that it is NOT changing interest rates. The overnight rate remains at 2.25% The prime rate stays at 4.45% What does this mean for you? This decision affects variable and adjustable rate mortgages, as well as lines of credit. It does not affect fixed-rate mortgages at this time. How this impacts different products Home Equity Line of Credit (HELOC): HELOCs are typically priced at Prime + 0.50% , keeping the current rate at 4.95% . Variable / Adjustable...