Bank of Canada Rate Announcement

The Bank of Canada has announced it's decision October 23, 2024 to further drop the overnight lending rate by 50 basis points. This is a move in the right direction for those of you on variable mortgages. The impact to fixed rate mortgages is more nuanced, call to discuss!!

https://www.bnnbloomberg.ca/business/economics/2024/10/23/boc-delivers-half-percentage-point-rate-cut-says-it-now-must-keep-inflation-at-2/