Bank Of Canada Interest Rates | Evelyn Lopes Realty Team_Blog

Tuesday, February 13, 2024   /   by Evelyn Lopes

How the Overnight Lending Rate Influences Your Financial World

How the Overnight Lending Rate Influences Your Financial World
Ever stopped to think about how a decision made in a high-level banking meeting can affect your mortgage, your savings, and even your entire financial roadmap? It's pretty mind-boggling when you put it into perspective.

Today, we're going to peel back the curtain on one of the banking world's most influential figures – The Bank of Canada's  Overnight Lending Rate, also known as the Key Interest Rate. Understanding this rate is key to grasping the bigger financial picture.
What is the Overnight Lending Rate?
Simply put, the Overnight Lending Rate is the interest rate at which banks lend money to each other. Think of it as the drumbeat to which the entire banking sector marches. It's not just any number; it's the pulse of the banking system, dictating the tempo of their day-to-day lending.
Recently, on January 24, the Bank of Canada made headlines by keeping this rate steady at 5%. This decision is more signc ...

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Tuesday, February 28, 2023   /   by Evelyn Lopes

MORTGAGE RENEWAL & FINANCING TIPS | HOW TO SAVE MONEY

MORTGAGE RENEWAL & FINANCING TIPS | HOW TO SAVE MONEY

Is your mortgage coming due and you are concerned because of the higher interest rates? There are actions that you can take if you find that your mortgage rate is too high for your comfort level upon renewal.

With increasing and higher mortgage rates many homeowners are feeling stressed.

Are you wondering what you can do, if you find that your mortgage rate is too high upon the renewal date? Are you dreading the thought of paying higher mortgage rates upon renewal? Are you struggling to keep up with your mortgage payments?

Are you feeling…. overwhelmed?

You’re not alone!

The good news is… you can take several actions to control the situation, lower your monthly costs, save money and reduce your stress!

Sound helpful?....Then check out this blog!

With the rapid rise of interest rates over the past year by the Bank of Canada as they tried to curb inflation, we saw many homeowners who wer; ...

  real estate, evelyn lopes, evelyn lopes realty team, caledon, finances, mortgage, mortgage rates, bank of canada interest rates, mortgage renewal

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Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated April 17, 2024
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