| Term | Bank Rate | Our Rate |
| 1 Year | 7.74 % | 5.94 % |
| 2 Year | 7.34 % | 4.79 % |
| 3 Year | 6.94 % | 4.44 % |
| 4 Year | 6.74 % | 4.39 % |
| 5 Year | 6.79 % | 4.14 % |
| 7 Year | 7.10 % | 5.09 % |
| 10 Year | 7.25 % | 5.34 % |
What it means for mortgage holders Hours after the BoC’s announcement, most of the country’s big banks raised their respective prime rates, which brings the country’s prime rate to 3.95%—a 125-bps increase since last summer. Most adjustable-rate mortgage (ARM) holders and those with lines of credit will see their payments increase as of their next
USMCA and the Coming Interest Rate Increases The Bank of Canada may have just received the green light it needed to move forward with its desired interest rate increases over the remainder of this year and into 2019. The new United-States-Mexico-Canada Agreement (USMCA), which replaces NAFTA, finally removes the uncertainty that clouded Canada’s trade future
Both July and August we’ve seen slight decreases in the benchmark price,” Phil Moore, president of the Real Estate Board of Greater Vancouver, said. The board released monthly figures for August on Wednesday. “In the detached market, it’s about three per cent lower than a year ago. In the condo market, it’s still 10 per cent higher but
