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.
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The Bank of Canada announced today that it is maintaining its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For Canadian homeowners, buyers, and anyone with a mortgage on the horizon — here's what you need to know.
