Latest Lending Rates

Access competitive rates and exclusive options from a wide network of lending institutions, including major banks, mortgage finance companies, credit unions, trust companies, alternative and private lenders.

My broad network offers you a variety of choices, so you're not limited to just one lender.

As of April 16th:
Prime rate: 4.95% (across most Canadian financial institutions).

What It Affects:
Interest charges on specific loans, including variable-rate mortgages, some car loans, home equity lines of credit (HELOCs), and unsecured lines of credit.

How It's Set:
Financial institutions use the Bank of Canada's overnight rate as a reference to determine their Prime rate. Lending institutions apply a margin to the Bank of Canada's overnight rate, which varies based on their operational costs, profit objectives, and competition. This can result in slight variations in Prime rates among different banks.

Key Considerations:
While most Canadian financial institutions tend to align their Prime Lending Rate with the Bank of Canada's overnight rate after its announcements, each institution is free to set its own Prime Lending Rate at its discretion.

The next Bank of Canada rate announcement is scheduled for Wednesday, June 4, 2025.

Note: Lender rates can change without notice. Ask me about exclusive rate promotions. See rates below.