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Interest Rate Announcement - January 29 2025
January 29, 2025 | Posted by: Matthew J. Charlton
The Bank of Canada has lowered its benchmark interest rate by 25 bps to 3.00% This is the Bank’s sixth consecutive rate cut.
The next rate announcement is scheduled for Wednesday, March 12, 2025.
'We acknowledge the Bank of Canada’s decision to lower the policy interest rate to 3.00% as a positive step in addressing Canada’s affordability crisis. While this measure provides some relief for middle-class families and offers hope to prospective and first-time homebuyers, there is still much work to be done—especially with the uncertainty of U.S. tariffs. As the voice of Canada’s mortgage industry, we remain committed to advocating for long-term solutions that make homeownership more accessible and sustainable for everyone.”
- Lauren van den Berg, President and CEO of Mortgage Professionals Canada
See Current Rates
