Tag: variable rates

What Makes Prime Fluctuate- Podcast with Ian Power @PulseFM

If you have or thinking of getting a mortgage, or a loan you may have heard the term prime. If you are in the industry you have probably heard of the “overnight lending rate.” Lines of credit, Home equity lines of credit, and variable mortgages are all considered fluctuating rates. These rates go up or down based on the prime rate. Prime is a rate that financial institutions lend at. Depending on the product that you are getting ie. mortgage or loan, the rate offered would be at prime – […]

Bank of Canada cuts overnight lending rates

Until recently, experts were predicting an interest rate hike in 2015, but to everyone’s surprise The Bank of Canada announced it was cutting its overnight lending rate from 1 per cent to 0.75 per cent this morning in response to falling oil prices. The cost per barrel of oil is now less than half of the $105 US it cost in June of last year. According to CBC: “The drop in oil prices is unambiguously negative for the Canadian economy,” Bank of Canada governor Stephen Poloz said in a morning […]

Atrina Kouroshnia January 21, 2015 Post Comment