Blog
streamlined • secure • remote
Interest Rate Announcement - December 11 2024
December 11, 2024 | Posted by: Matthew J. Charlton
The Bank of Canada has lowered its benchmark rate by 50 bps, bringing it down to 3.25%. This marks the fifth consecutive cut since June.
'The Bank of Canada's decision to lower the interest policy rate marks an important step in addressing housing affordability challenges across Canada. This decision offers much-needed relief to middle-class families, aspiring homeowners, and first-time buyers who have been navigating significant financial pressures. While this is progress in the right direction toward making homeownership more affordable, there’s still more work ahead. As the voice of Canada’s national mortgage industry association, we remain committed to pushing for solutions that make homeownership more accessible and affordable for everyone.”
- Lauren van den Berg, President and CEO of Mortgage Professionals Canada
See Current Rates
