The Bank of Canada (BoC) met on April 10th, and made the decision to leave rates unchanged once again. It has been quite the roller coaster ride of inflationary news over these past few weeks, with market expectations changing for exactly when the BoC will drop interest rates, and by how much. The BoC has reinforced that it is still expecting our inflation targets to reach 2.5% by the end of this year and to reach our 2% target by the end of 2025, although we are likely in for a bumpy ride getting there.

The Bank of Canada (BoC) met for its second meeting of 2024 on March 6th, and made the decision to leave rates unchanged once again. Our economy is slowing with inflation continuing to ease, and it is very much anticipated that we are at the end of the rate hiking cycle. However, in the eyes of the BoC our inflationary data is still not coming down fast enough to warrant rate cuts yet.... even though 28% of our total CPI (a measure used to determine inflation) is made up by shelter costs, of which mortgage interest costs are a large component!!

I hope that your year is off to a healthy and successful start!! The Bank of Canada (BoC) met for its first meeting of 2024, on January 24th and made the decision to leave rates unchanged once again. Our economy is slowing and inflation is continuing to ease, and it is very much anticipated that we are now at the end of the rate hiking cycle. The BoC has even removed the language of rate increases still being on the table.. the next step now are rate cuts, and the only question remaining is when those will materialize.

The Bank of Canada (BoC) met on December 6th and made the decision to leave rates unchanged again this month. Our economy is slowing and inflation is continuing to ease, and it is very much anticipated that we are now at the end of the rate hiking cycle. However, the BoC has remained very clear that they are prepared to increase rates further, if needed. Variable rate borrowers should continue to remain cautiously optimistic.

The Bank of Canada (BoC) met on October 25th and made the decision to leave rates unchanged again this month. While it is still very much anticipated that we are at or near the end of the rate hiking cycle, the BoC has remained very clear that they are prepared to increase rates further, if needed. Variable rate borrowers should continue to remain cautiously optimistic. 

The Bank of Canada (BoC) met on September 6th and made the decision to pause their interest rate hikes, for now. While it is widely anticipated that we are at the end of the rate hiking cycle, the BoC has remained very clear that they are prepared to increase rates further if needed. Variable rate borrowers should remain cautiously optimistic. 

The Bank of Canada met on July 12th and, in a widely anticipated move, increased interest rates by another 0.25%. Prime is now at the highest level we have seen in 22 years. With property values and mortgage sizes considerably higher than they were back then, this move has added further stress to all variable rate mortgage holders, and concern for those in fixed rate terms that are nearing renewal.

The Bank of Canada met on June 7th and surprised markets with another interest rate increase of 0.25%. And for all of us variable rate mortgage holders this announcement has added further stress to our budgets.

The Bank of Canada met this past week and, for the second time this year, they have made the decision to leave rates where they are. No changes to interest rates at this time.

The Bank of Canada met this past week for the second meeting of 2023, and have made the decision to leave rates where they are. This is the first time in 12 months that variable rate mortgage holders have not seen an increase in their rate and monthly payment, and comes as a huge relief.