On Wednesday, the central bank increased its key interest rate to 0.50 per cent from a record low of 0.25 per cent. It’s the first rate hike since 2018.

Today, Zlatkin pegs the typical variable-rate mortgage between 2.3 per cent and 2.6 per cent, while fixed-rates come in at around 3.89 per cent. The spread, then, is around 1.6 per cent.

The Bank of Canada’s target rate directly influences borrowing costs, including the prime rate used by banks to set mortgage ...

For a variable-rate mortgage to exceed the cost of a fixed-rate mortgage, the overnight and prime rates would have to rise by roughly 1.75 percentage points.

On the other hand, if you currently have a variable-rate mortgage and only have one or two years left on your term. It could make sense to ride things out. That’s because you would have already had a ...

Ask an Expert: Affinity Credit Union. In this segment they're helping you navigate the world of fixed and variable rate mortgages #sponsoredcontent ...

If the Bank of Canada cuts rates five times this year, one expert predicts, variable rates will come out "slightly ahead" in 2024.

Joe’s variable rate is pegged at a discount of 0.6 per cent to the prime rate, a benchmark rate used by lenders. Based on the current prime rate of 3.95 per cent, Joe’s rate is 3.35 per cent ...

The best time to build a strategy for interest rate fluctuations is when they are still low — before the shock of a hike Scott Hannah Published Mar 04, 2019 • Last updated Mar 04, 2019 • 6 ...

Historically, variable mortgage rates have trended below fixed rates. Currently, variable rates—which are tied to the central bank’s benchmark rate—remain above fixed rates.