Our opinions are our own. The prime rate is a base rate set by financial institutions in Canada to determine the variable interest rates they can charge on lending products, such as mortgages and ...

Paul Volcker wanted to tame inflation and the Bank of Canada followed suit. The prime rate, which had fallen to 12.25% in July 1980 jumped to 22.75% by August 1981. A five-year fixed rate mortgage ...

Royal Bank of Canada, Toronto Dominion Bank, Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada, ...

Who benefits from the latest Bank of Canada rate announcement? Learn how to use the latest rate drop to boost your financial ...

Experts say homeowners with variable mortgage rates will benefit from lower monthly payments after the Bank of Canada's ...

In its first cut of 2025, the Bank of Canada (BoC) lowered its key interest rate by 25 basis points. On Wednesday, the ...

National Bank of Canada (NTIOF) announced a decrease in its prime rate by 25 basis points to 5.20%, effective January 30, 2025. Invest with ...

Additionally, things like the bond market, costs of long-term deposits, and competition for funds also play a role in determining the prime rate. As of Jan. 29, 2025, Canada’s prime rate is 5.20%.

TORONTO, Jan. 29, 2025 /PRNewswire/ - Equitable Bank (the "Bank" or "Equitable"), Canada's Challenger Bank™, today announced it is reducing its prime lending rate by 25 basis points to 5.20% ...

Mark Carney plans to announce he won’t follow through with a proposed increase to Canada’s capital gains tax if he wins the ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...