Benchmark Rate

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6 11, 2020

Bank of Canada Signals Low Rates Until 2023

By |2020-11-06T14:40:50-05:00November 6th, 2020|Benchmark Rate, Housing Market, Interest Rates|0 Comments

Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday. The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a [...]

6 04, 2018

What is Canada’s Benchmark Rate?

By |2018-04-06T17:51:32-04:00April 6th, 2018|Benchmark Rate|0 Comments

The Benchmark Rate The benchmark rate is a rate that lenders are required to use to qualify mortgage borrowers in Canada who want a variable rate mortgage or a mortgage term of less than 5 years. The benchmark rate made headlines in the early part of 2010 when the Government of Canada announced new rules for lending [...]

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