01/30/2025
The Bank of Canada has lowered its benchmark rate again. This reduction marks the sixth consecutive rate cut since March 2024. In response, Canadian banks have lowered their prime lending rate from 5.45% to 5.20%. This brings relief for variable mortgage holders and those looking to borrow in the near term. The Bank of Canada's next announcement will be on March 12, 2025. Want to know more about what this means for your personal finances, let's connect. [email protected]. 709-884-6144.