Bank of Canada cuts benchmark mortgage rate for 3rd time in months

Article Link: https://globalnews.ca/news/7272563/bank-of-canada-cuts-benchmark-mortgage-rate/

Discussion posted by: Papertroll

House-hunting Canadians saw their buying power increase this week as the benchmark five-year mortgage rate reported by the Bank of Canada fell for the third time this year, easing a key stress test faced by borrowers. The central bank said the rate fell to 4.79 per cent, after decreasing to 4.94 per cent in May and to 5.04 per cent in March.