The variable rate mortgage prime rate went up by 0.25% at banks across the country after the Bank of Canada (BoC) announced they are increasing their interest rate by 0.25% yesterday.

DLC’s chief economist, Dr. Sherry Cooper, states how the Canadian economy is on a tear, dramatically outperforming the U.S. The BoC is concerned with increasing household debts and welcomes a slowdown in housing in borrowing activity.

October 25th is the next interest rate announcement by the BoC.

Click here for Dr. Sherry Cooper’s Article

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