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...

Starting in 2027, the BC Home Owner Grant will be reduced for homeowners in northern and rural communities. Currently, eligible homeowners outside the Capital Regional District, Metro Vancouver Regional District and Fraser Valley Regional District can receive a basic Home Owner Grant of up to $770. Effective January 1, 2027, that maximum will decrease to $570 — a reduction of $200 per year. Why is the grant changing? The additional $200 was provided through the Northern and Rural Home Owner...

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...