CATEGORIES

CURRENT RATES

2 YEAR 2.99%

3 YEAR 2.19%*

4 YEAR 2.49%

5 YEAR 2.34%*

5 YEAR Variable 2.15%*

Updated May 26th, 2020
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

Oriana News

Bank of Canada cuts interest rate: Read the official statement

Financial Post ~ March 4th, 2020Bank of Canada lowers its key interest rate by 50 basis points to 1.25 per centHere’s the Bank of Canada’s official statement for its interest rate decision on Wednesday, March 4, 2020:The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1.25 per cent. The Bank Rate is correspondingly 1.5 per cent and the deposit rate is 1 per cent.While Canada’s economy has be...[Read More]

Breaking: Changes to stress test announced

Mortgage Broker News ~ February 18th, 2020Minister of Finance Bill Morneau has announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages.Instead of the Bank of Canada 5-Year Benchmark Posted Rate, the new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%. These changes will come into effect on April 6, 2020.The new benchmark rate will be...[Read More]

Predictions for Canada’s mortgage market in 2020

Globe and Mail ~ December 29th, 2019Canada’s mortgage market turned heads in 2019. From the plunge in interest rates, to the late-year surge in mortgage growth to the growing influence of online discount mortgage lenders, it was a year of milestones.Looking ahead, 2020 is guaranteed to have its own twists. These are five undaunted predictions of what’s to come:A more cutthroat mortgage marketIt’s taken a few decades since the birth o...[Read More]

The Bank of Canada has held its benchmark overnight interest rate at 1.75 per cent as expected by many analysts.

The Bank of Canada has held its benchmark overnight interest rate at 1.75 per cent as expected by many analysts.CBC - December 3rd, 2019Retailers foresee holiday joy — even as Poloz looks to hold line on rates: Don PittisWhile the world cuts interest rates, the Bank of Canada likely won't if we keep shoppingSouth of the border, there was much hand-wringing that a shortened holiday spending season this year just wouldn't give our American cousins...[Read More]