Rate Change - September 2022
Joel Olson • September 7, 2022
The Bank of Canada raised its key lending rate by 0.75% today.
This means most lenders will raise their prime rate to 5.45%.
Watch the video below to learn how this will affect you and your mortgage.
If you have any questions or concerns, feel free to reach out.
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. While Canada's economic recovery is broadening, a new layer of uncertainty has entered the picture. Here is what happened and what it means for your mortgage.
Understand the real costs of homeownership. Budget for closing costs, inspections, and more. Contact Joel Olson for expert mortgage advice.
