Tag: Variable Rates

Bank Of Canada Raises Prime Rate…by 25 Basis Points?

The big announcement in finance yesterday, was that the Bank of Canada finally raised their prime rate.  Now although raising the prime rate was not a surprising announcement to the market, the amount they raised it by was.  Economists predict that the Bank Of Canada’s prime rate will be 3.25% by the end of 2010.  […]

The Current and Future Status of Variable Rate Mortgages

It is no secret that fixed mortgage rates have been on the rise.  Less than a month ago, the Bank of Canada’s posted conventional 5-year mortgage rate was 5.25%.  It is now 6.10% and is likely heading upwards.  But what about variable mortgage rates?  Have they increased as well?  No, they have not.  Prime Rate […]