Bank of Canada Benchmark Rate is now at 3.25% and climbing.
What is the benchmark rate? That is the rate at which the BOC lends Money to its first-tier lenders.
This has resulted in the highest prime rate charged by our tier 1 lenders in 15 years.
The jury of public opinion remains out on how many more and how long will these escalated rates last.
Looking for insight, call our offices.