Rate Watch

July 10, 2019

Jeff Laberge, Mortgage Broker  


  

    

The Bank of Canada maintained it’s overnight rate today, so there will be no change to Canadian variable mortgage rates at this time.


The Bank recognized that trade tensions – specifically between the U.S. and China -- are affecting the world economy in a negative way which will slow global growth, and thus have an anchoring effect on the growth of the Canadian economy. Due to this, there is no need for the Bank to raise the overnight rate, despite better than expected economic growth in Canada.



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The Prime Lending Rate is currently 3.95%

Historical & Scheduled Bank of Canada Rate Decisions

2019


January 9, 2019 -- no change


March 6, 2019 -- no change


April 24, 2019 -- no change


May 29, 2019 -- no change


July 10, 2019 -- no change


September 4, 2019 -- TBD


October 30, 2019 -- TBD


December 4, 2019 -- TBD



2018


December 5, 2018  --  no change


October 24, 2018  --  increase of 0.25%


September 5, 2018  --  no change


July 11, 2018  --   increase of 0.25%


May 3, 2018  --  no change


April 18, 2018  --  no change


March 7, 2018  --  no change


January 17, 2018  --  increase of 0.25%