It is the first raise since it announced a pause in January
The Bank of Canada, however, has faced criticism for not moving fast enough to start raising rates at the beginning of last year.
Ratehub.ca said a homeowner who was paying $4,075 on their $716,083 home with a five-year variable rate of 5.55 per cent amortized over 25 years would see their rate increase to 5.80 per cent and their monthly payments rise by $98.Article content
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What economists are expecting from Wednesday's Bank of Canada decision - BNN BloombergThe Bank of Canada is set to release its latest interest rate decision on Wednesday and economists are largely anticipating rates to remain on hold yet again.
Read more »
Canada's housing market sees largest improvement in affordability in four years: National BankCanada’s housing market saw the largest improvement in affordability in nearly four years in the first quarter of 2023, according to a report from economists at the National Bank of Canada.
Read more »
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Read more »
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Read more »
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Read more »
Bank of Canada to announce interest rate decision this morningThe Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up.
Read more »