Quote:
Originally Posted by The Fonz
https://www.wsj.com/livecoverage/fed...ates-june-2022
Someone more knowledgeable on this please correct me if I'm wrong, but doesn't the BOC typically lead the Fed by about .5 of a percentage point? That'd put our BOC rate at 3.5% to 3.8% by year-end, and Prime rate at about 5.5% to 6.0%.
These Prime+1% HELOCs may very well be paying 6-7% interest by end of 2022.
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That's just a rule of thumb. But the BOC is independent, and will administer it's interest rate policy as domestic needs warrant. Having said that, as the old saying goes, when the US sneezes, Canada catches a cold.