Rate Watch

April 24, 2019

Jeff Laberge, Mortgage Broker  



The Bank of Canada maintained the overnight rate today and revised it’s growth projection down to 1.20%, which has caused government bond yields to fall.

This fall in government bond yields has erased the small gain in the yields which we have seen over the past couple of weeks. Overall the yields have fallen over the past 5 months, and they are likely to continue to fall, which will bring fixed rates down as well, as it appears that poorly planned economic policies enforced on the Canadian economy by the Liberal party are having adverse effects, specifically on real estate and the energy sector. 

Unless the Finance Minister comes to his senses and decides to create different rules for different real estate markets in Canada, rather than considering accelerated prices in just 2 cities as a national housing problem, I expect further declines in the real estate sector. 

The inability for many Canadians to purchase homes that they are able to afford, but are not qualified to purchase due to current mortgage rules, will have a long term negative effect on the Canadian economy. Home ownership is a cornerstone of a prosperous economy.



The Prime Lending Rate is currently 3.95%

Historical & Scheduled Bank of Canada Rate Decisions


January 9, 2019 -- no change

March 6, 2019 -- no change

April 24, 2019 -- no change

May 29, 2019 -- TBD

July 10, 2019 -- TBD

September 4, 2019 -- TBD

October 30, 2019 -- TBD

December 4, 2019 -- TBD


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%