The Prime Lending Rate in Canada (like in many other countries) is a reference interest rate charged by banks and lenders to their most “creditworthy” customers. In reality we find that most banks and lenders in Canada base their best interest rate (usually in the form of a variable interest rate) on the prime lending… Continue reading What is “Prime Rate”?
Tag: bank of canada
Mortgage Monday Rate Update – October 2011
Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates changes even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the… Continue reading Mortgage Monday Rate Update – October 2011