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We get this question all the time: “Isn’t the Bank of Canada’s rate the same as the bank’s lending rate?”Not quite — and the difference can make a big impact on your mortgage. Let’s break it down, Loft style The Bank of Canada Policy Rate (Overnight or Key Rate) Think of this as the “wholesale” […]

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BoC vs. Bank Prime: Why They’re Not the Same (and Why It Matters for Your Mortgage)

We get this question all the time: “Isn’t the Bank of Canada’s rate the same as the bank’s lending rate?”Not quite — and the difference can make a big impact on your mortgage. Let’s break it down, Loft style The Bank of Canada Policy Rate (Overnight or Key Rate) Think of this as the “wholesale” […]

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