William Reel - Neighbourhood Mortgage Source - Mortgage Broker

09/17/2025

With persistent concerns around employment numbers and inflation at a palatable number the BoC has dropped the overnight rate by 25bps to 2.50%. This will result in the Prime rate reducing to 4.70% form 4.95%... If you'd like to discuss market conditions and what this could potentially mean for you, drop me a line...

01/29/2025

The 1st Bank of Canada meeting for 2025 is complete and the BoC has continued down the path of rate cuts. However, future rate cuts are a little murky based on the threats of the new US Administration.

The Bank of Canada has reduced the Policy Rate by 0.25% (3.00%) in it's 6th consecutive rate cut since 2024. The new Prime Rate will be 5.20%, down from 5.45%. This again will be welcomed news for Variable Rate mortgage holders and anyone carrying debt on LOC's.

For me information around Tariffs (By both the US & Canada's retaliatory cuts) and what that could mean for interest rates in the future, please feel free to reach out.

The quarter-point reduction marks a step down from the Bank of Canada’s moves to cut by an oversized 50 basis points in its two previous decisions.

12/11/2024

An early Christmas present for those in Variable Rate Mortgages/Products (Heloc, LOC)...

The Bank of Canada has once again provided a jumbo rate cut to the overnight rate with a 50bps rate cut. After this latest rate cut, the Policy Rate now sits at 3.25%. The new Prime Rate will be 5.45%...

To put the Policy Rate into perspective... In 2019 prior to the pandemic the Policy Rate was 1.75% and the Prime Rate was 3.95%.

If you have any questions or want to discuss in further detail please reach out... The BoC will meet again on January 29, 2025.

Merry Christmas!

The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.

09/04/2024

The Bank of Canada has dropped the Policy Rate by 0.25%. This is the third rate drop in 2024 and the Policy Rate now sits at 4.25% (from 5.00%). We should see additional rate cuts at the next BoC meeting should inflation continue to trend in the right direction. Prime Rate is now 6.45%...

Send me a message if you require more information.

In a short statement, the central bank delivered its third straight cut to interest rates, as expected.

06/05/2024

The Bank of Canada reduces the Policy Rate by 25bps. This will be a welcomed announcement for many... Reach out if you have any questions.

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

02/13/2024

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07/12/2023

The Bank of Canada once again raised the Policy Rate by 25 basis points. Please reach out with questions if you're in a Variable mortgage or have considerable debt.

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

06/07/2023

The Bank of Canada raises rate by 25 basis points...

The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.

03/08/2023

Bank of Canada holds key interest rate at 4.5%.

The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

01/25/2023

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%.

11/12/2022

Darryl Sittler is a legend and a gentleman.
What a great reaction to his good friend Borje Salming. Two of my all time favourites as Leaf fan growing up.