📉 Bank of Canada Just Dropped Rates

The Bank of Canada just lowered interest rates to 3.00%! But what does this actually mean for you?

:white_check_mark: Borrowers win: If you have a variable-rate mortgage, loan, or line of credit, you could see your payments go down (finally, some relief!). First time homebuyers might also find mortgages a bit more affordable.

:x: Savers feel the squeeze: If you’ve been stacking up cash in a savings account or GIC, you might earn less as rates drop.

How are you guys thinking about this rate change?

:arrow_down: Vote below & drop your thoughts in the comments!

  • Yes! Lower rates help me!
  • No, I wanted rates to stay higher!
  • Not sure yet, watching how things play out
0 voters