Bank of Canada Increases Interest Rate

Earlier this morning, BOC has announced interest rate increase by 0.25%.

That means today's prime rate of 3.20% will soon be 3.45% for most banks and financial institutions (TD's prime is 3.35%, will soon be 3.60%). 

If you have a variable rate mortgage and not sure whether you should lock in to a fixed rate or not, please contact us and we shall give you some advice.