Bank of Canada Raises Mortgage Rates
Posted on Mar 06, 2022 in In the News
On March 2 2022, the Bank of Canada increased its Overnight Lending Rate by 25 basis points, the first increase we’ve seen since the start of the pandemic.
The Central Bank had previously slashed the trend-setting rate by 150 basis points to support the economy, when the pandemic first started, bringing rates down to a historical low. However, with...