Bank of Canada Cuts Interest Rate to 3.25%: What It Means for Mortgages and Loans in 2025
The Bank of Canada (BoC) has officially reduced its overnight interest rate to
3.25% as of December 2024, making it the fifth consecutive decrease. This pivotal move will undeniably shape the landscape of borrowing for Canadians, particularly in the realms of mortgages and personal loans. Understanding what this interest rate cut means for homebuyers, borrowers of personal loans, and the wider economic implications is essential for informed financial planning in
2025. In this article, we shall explore how lower interest rates influence mortgage costs, the effects on personal loans, and consumer spending behavior amid shifting economic conditions.
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