We have some important news to share about the British Columbia Property Tax Deferment Program, coming directly from the new 2026 Provincial Budget. If you currently defer your taxes or are planning on doing so this year, please keep reading. What is Changing? Property Tax Deferment has been a popular program for many people (especially seniors) because it offered very… Read More »
Rate Update and Analysis – December 2025
On Wednesday, December 10th, at its regular policy meeting, the Bank of Canada (BoC) maintained its target for the overnight rate at 2.25 per cent. This is the first pause after 2 rate drops this fall, and with most banks and mortgage lenders, leaves the consumer prime rates at 4.45 per cent (4.6 per cent with TD Canada Trust). Why… Read More »
Rate Update and Analysis – October 2025
On Wednesday, October 29th, at its regular policy meeting, the Bank of Canada (BoC) reduced its target for the overnight rate to 2.25 per cent. This is the second rate drop in a row after three straight pauses in rate policy over the spring/summer. With most banks and mortgage lenders, this will mean consumer prime rates will be reduced to… Read More »
Rate Update and Analysis – September 2025
On Wednesday, September 17th, at its regular policy meeting, the Bank of Canada (BoC) reduced its target for the overnight rate to 2.5 per cent. This is the first rate drop after three straight pauses in rate policy. With most banks and mortgage lenders, this will mean consumer prime rates will be reduced to 4.70 per cent (4.85 per cent… Read More »
Rate Update and Analysis – July 2025
On Wednesday, July 30th, at its regular policy meeting, the Bank of Canada (BoC) held its target for the overnight rate at 2.75 per cent. This is the third straight pause in rate policy after seven consecutive rate drops. With most banks and mortgage lenders, this will mean consumer prime rates will continue at 4.95 per cent (5.10 per cent… Read More »
Rate Update and Analysis – June 2025
On Wednesday, June 4th, at its regular policy meeting, the Bank of Canada (BoC) held its target for the overnight rate at 2.75 per cent. This is the second pause in rate policy after seven consecutive rate drops. With most banks and mortgage lenders, this will mean consumer prime rates will continue at 4.95 per cent (5.10 per cent with… Read More »
Rate Update and Analysis – April 2025
On Wednesday, April 16th, at its regular policy meeting, the Bank of Canada (BoC) held its target for the overnight rate at 2.75 per cent. This is the first pause in rate policy following seven consecutive rate drops. With most banks and mortgage lenders, this will mean consumer prime rates will continue at 4.95 per cent (5.10 per cent with… Read More »
Rate Update and Analysis – March 2025
On Wednesday, March 12th, at its regular policy meeting, the Bank of Canada (BoC) reduced its target for the overnight rate by 0.25 per cent, down to 2.75 per cent. This is the seventh rate drop in a row from the BoC (all happening since June) and will cause banks and mortgage lenders to cut their consumer prime rates for… Read More »
Rate Update and Analysis – January 2025
On Wednesday, January 29th, at its regular policy meeting, the Bank of Canada (BoC) reduced the policy rate by 0.25 per cent, bringing it down to 3 per cent. This is the sixth rate drop in a row from the BoC (all happening since June) and this rate reduction will cause banks and mortgage lenders to cut their consumer prime… Read More »
Rate Update and Analysis – December 2024
On Wednesday December 11th at its regular policy meeting, the Bank of Canada (BoC) reduced the policy rate by 0.50 per cent, bringing it down to 3.25 per cent. This is the fifth rate drop in a row from the BoC (all happening since June), and this rate reduction will cause banks and mortgage lenders to cut their consumer prime… Read More »