Is this a good rate?Second opinion · Canada

2 guides

Rate basics guides

The building blocks behind every mortgage rate: the policy rate and prime.

Mitey the yeti sits reading a small book and points at a line, a few coins beside him
  1. ExplainerHow the Bank of Canada's rate reaches your mortgage, loans and savingsFollow a Bank of Canada policy rate change through prime, variable mortgages, HELOCs, savings and GICs, and see what a quarter point means for a household.
  2. Q&AThe prime rate, explainedWhat the prime rate is, who sets it, which Canadian loans are priced off it, and why the spread you negotiate above or below prime is the part you control.