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Bank of Canada Interest Rates

Current Bank of Canada Interest Rate

As of July 12th, 2023 the Bank of Canada overnight interest rate is 5%. 

The next interest rate announcement from the Bank of Canada will be on Sept 6th, 2023. They may announce the rates going up again, holding the same or cutting them. 

The Prime interest rate in Canada is currently 7.20%. The prime rate is the interest rate that banks and lenders use to determine the interest rates for many types of loans and lines of credit. These can include credit cards, Helocs, variable-rate mortgages, and much more. 

If you are planning to buy or refinance in the next 100 days fill in the form today to find out current fixed or variable mortgage rates and get a mortgage rate hold.