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Bank of Canada Raises Rate by 75 bps

Bank of Canada Raises Rate by 75 bps

The Bank of Canada raised its key lending rate by 75 basis points this morning, bringing it to 3.25%. In its statement, the Bank said, “short-term inflation expectations remain high” and that inflation risks becoming “entrenched” the longer it remains elevated. As a...
Bank of Canada Raises Rate by 75 bps

Is now a good time to refinance your mortgage?

The big news in the mortgage world these days has been the steady increase in fixed mortgage rates. Since the start of the year, fixed rates have risen approximately one percentage point or 100 basis points. As a general guide, for every 0.25% increase in mortgage...