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 ...

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 ...

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 ...

David Kawai/Bloomberg via Getty Images Hours before 25% tariffs on Canada were set to take effect, the country's prime minister said the U.S. and its northern neighbor have reached an agreement to ...

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 ...