| Term | Bank Rate | Our Rate |
| 1 Year | 3.54 % | 3.44 % |
| 2 Year | 3.74 % | 3.44 % |
| 3 Year | 3.89 % | 3.24 % |
| 4 Year | 3.94 % | 3.64 % |
| 5 Year | 5.59 % | 3.39 % |
| 7 Year | 5.80 % | 3.64 % |
| 10 Year | 6.10 % | 3.89 % |
Today’s interest rates are still at jaw-dropping, forehead-slapping, eye-popping lows if you judge by historical standards. So when the Bank of Canada talks about bringing rates back to more normal levels, you better listen up. Rates have already risen in the past 15 months and it now looks like there’s a fair bit more to
What it means for mortgage holders Hours after the BoC’s announcement, most of the country’s big banks raised their respective prime rates, which brings the country’s prime rate to 3.95%—a 125-bps increase since last summer. Most adjustable-rate mortgage (ARM) holders and those with lines of credit will see their payments increase as of their next
USMCA and the Coming Interest Rate Increases The Bank of Canada may have just received the green light it needed to move forward with its desired interest rate increases over the remainder of this year and into 2019. The new United-States-Mexico-Canada Agreement (USMCA), which replaces NAFTA, finally removes the uncertainty that clouded Canada’s trade future
