The Bank of Canada (BoC) announced a 50-basis point reduction in the policy interest rate on December 11, 2024, in response to recent labour market data and economic indicators. Bank of Canada’s December 11, 2024, Interest Rate Announcement: Previous Policy Rate: The BoC’s policy rate stood at 3.75%, following a 50-basis-point reduction in October 2024. […]
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Posted on by Gerard Buckley
Gerard’s Take: Interest Costs in 2024 Why is this? Many Canadians feel like we are in a recession with reduced spending power over the last two years and higher cost of mortgage renewals. In some cases, mortgage costs on renewals are going up by 200 – 300%. With current house prices being high and average […]
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