Main Content

Another 0.75% hike from the BoC

You may feel like rate hikes have been happening for a while now, but they only started increasing on March 2 this year. With so many rate hikes in a short period, many of us want to hit the pause button to get our breath back.

Since March 1, the central bank has raised its benchmark rate by 3.0%. After today, lender prime rates will (presumably) rise to 5.45% from 4.70%.

Will the BoC hold now?

Hopefully. Maybe. 🤞. I understand that inflation is a problem, and I also feel that how quickly rates lowered at the start of the pandemic and how quickly they are rising now is not a manageable path for most homeowners. Let’s hope the BoC hits the pause button to allow us to take a breath and get back on track.

As always, we are here to help if you have any questions!

Best regards,
Matt Parker

P.S. Are you a member of our House Rich Facebook Community? Inside the community, we host events, contests, and giveaways for our valued community. Click here to join to receive your welcome gift!

Next Bank of Canada Announcement: October 26, 2022

Skip to content