http://www.bank-banque-canada.ca/en/...8/pr08-21.html
Here's another link from the Bank of Canada.
Over the past few weeks just about every lender has been raising their variable lending rates. Lots of lenders used to have Prime less .5 or .6% making your effective rate around 4.15%. Now the best you can find is Prime. Lots of banks are even Prime plus 1.
Hopefully all the lenders drop their Prime rates as well and give borrowers a bit of a break again. Generally they all drop their rates a day or two after the Bank of Canada makes an announcement like this. However these are different times. I expect them to drop Prime but it certainly isn't guaranteed.
As soon as I start getting notices from lenders as to what they are doing I'll post them in this thread.