Updated: Jan 25
Another .75% hike by BOC has been announced today, which will be in effect from tomorrow.
This is the fifth 2nd highest hike in the past 6 months which has brought some stability to the real estate market across Canada.
This means that prime will be now 5.45%, and the stress test will remain at 5.25%, that is the question? We will find out in the next couple of days.
Below chart: courtesy https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/