Tuesday, June 14, 2022

 


Bank of Canada: some Canadians could see mortgage payments jump by 45% in 2025-26 as rates rise


OTTAWA — Some Canadians who took out mortgages in 2020-21 could see their monthly payments jump by as much as 45% in 2025-26, given rising rates, according to a Bank of Canada scenario released on Thursday. Continue reading....

How the Bank of Canada’s interest rate works—and why it’s rising

The Bank of Canada has raised its policy interest rate by half a percentage point for the second time this year, a move intended to slow runaway inflation. The rate hike brings the Bank’s policy interest rate, also known as the overnight rate, up to 1.5% from the previous 1%. Click here to read more....