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| Our Rate of the Day - 2.05% | ||
| TERM | OURS (oac) | POSTED |
| variable | 2.05% | 2.75% |
| 1 yr | 2.44% | 3.50% |
| 2 yr | 3.04% | 4.00% |
| 3 yr | 2.90% | 4.55% |
| 4 yr | 3.79% | 5.24% |
| 5 yr | 3.85% | 5.59% |
| 7 yr | 4.79% | 6.29% |
| 10 yr | 5.25% | 6.60% |
As expected, the Bank of Canada has increased the overnight rate from 0.25 % to 0.5%.
This means that if you have a Variable Rate mortgage your interest rate just increased by 0.25%. The Prime Lending rate is now 2.5%
We have some great rates from Lenders offering Prime -0.6%, which right now is only 1.9% interest. Still a great interest rate!
Tags: Bank of Canada, Interest Rates, variable interest rate
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