HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
Alberta
Garth Lyon Senior Mortgage Professional

Garth Lyon

Senior Mortgage Professional


Phone:
Address:
103, 901-8 Avenue, Canmore, Alberta

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

BREAKING NEWS Bank of Canada Raises Key Interest Rate to 0.50%

3/2/2022

THINK OUTSIDE THE BOX:  The Bank of Canada has raised its overnight target rate by a quarter point, bringing it to 0.50%.

In its statement accompanying the decision, the Bank said: “As the economy continues to expand and inflation pressures remain elevated, the Governing Council expects interest rates will need to rise further.”

The Bank also said inflation is expected to be higher than projected in the near-term. “Persistently elevated inflation is increasing the risk that longer-run inflation expectations could drift upwards.”

This is the BoC’s first rate hike since October 2018. Banks and other financial institutions are expected to raise their prime rate in the coming days, which will increase rates for variable-rate mortgage holders.  Read full statement here

MY LENDERS

TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
Merix Equitable Bank RFA CMLS ICICI Bank Manulife
Attain Mortgage Haventree Bank HomeEquity Bank Lifecycle Mortgage Sequence Wealth One
Fisgard Capital Optimum Bridgewater Marathon Mortgages Vault