Paul Volcker wanted to tame inflation and the Bank of Canada followed suit. The prime rate, which had fallen to 12.25% in July 1980 jumped to 22.75% by August 1981. A five-year fixed rate mortgage ...

Our opinions are our own. The prime rate is a base rate set by financial institutions in Canada to determine the variable interest rates they can charge on lending products, such as mortgages and ...

How the Bank of Canada target rate change can affect Canadians renewing mortgages in 2025 and 2026 and 10 steps homeowners can take to prepare ...

TORONTO, Jan. 29, 2025 /CNW/ - Equitable Bank (the "Bank" or "Equitable"), Canada's Challenger Bank™, today announced it is reducing its prime lending rate by 25 basis points to 5.20% from 5.45%.

On Wednesday, the major six banks announced they would decrease their prime rates by a quarter-percentage point, from 5.45 per cent to 5.2 per cent, effective the following day. That came after the ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...