The benchmark interest rate in Canada was last recorded at 2.25 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Canada Long Term Interest Rate

• Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 3.12 % pa in Oct 2025, compared with 3.17 % pa in the previous month.
• Canada Long Term Interest Rate data is updated monthly, available from Jan 1993 to Oct 2025.
• The data reached an all-time high of 9.28 % pa in Jun 1994 and a record low of 0.46 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank of Canada.

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.21 % pa in Oct 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 2.25 % pa in Oct 2025.
• Canada Exchange Rate against USD averaged 1.40 (USD/CAD) in Oct 2025.

Rates have been trending downward in Canada for the last five years. The ebbs and flows are caused by changes in Canada’s bond yields (driven by Canadians economic developments and international rate movements, particularly U.S. rate fluctuations) and the overnight rate (which is set by the Bank of Canada). As of August 2022, there has been a 225 bps increase in the prime rate, since beginning of year 2022, from 2.45% to 4.70% as of Aug 24th 2022. The following are the historical conventional mortgage rates offered by the 6 major chartered banks in Canada in the past 20 years.

Bank Lending Rate in Canada decreased to 4.45 percent in November from 4.70 percent in October of 2025. This dataset provides - Canada Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Evaluate Canada’s best mortgage rates in one place. RATESDOTCA’s Rate Matrix lets you compare pricing for all key mortgage types and terms. Rates are based on an average mortgage of $300,000

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February and dropping to *** percent in March. In April 2025, inflation decreased to *** percent. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of **** percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to *** percent in December 2024. In 2025, the bank rate witnessed further cuts, standing at * percent in March 2025 and **** percent in September 2025. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at **** percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

Unlock the potential of your home equity! Explore the booming home equity loan market, projected to reach $41.18 billion by 2033. Learn about market trends, top lenders (Bank of America, Discover Bank, LoanDepot), and regional insights in our comprehensive analysis. Discover how HELOCs and fixed-rate loans are shaping the future of home financing. Recent developments include: In April 2022, Redfin a real estate company based in Seattle (United States) acquired Bay Equity Home Loans with a sum of USD 137.8 Million. The merger accelerates Redfin’s strategy for expanding its business with customers to buy, sell, rent, and finance a home., In July 2022, Ontario Teachers’ Pension Plan Board acquired HomeQ which exists as a parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. HomeEquity Bank exist as a Canadian Bank offering a range of reverse mortgage solutions product and Ontario Teachers' Pension Plan Board is a global investor.. Key drivers for this market are: Increase In Sales of Household Units, Higher Duration of Repayment. Potential restraints include: Increase In Sales of Household Units, Higher Duration of Repayment. Notable trends are: Access to Large Amount of Loan.

The US home loan market, a cornerstone of the American economy, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) of 18% from 2025 to 2033. This expansion is fueled by several key drivers. Low interest rates, particularly in the early part of the forecast period, have historically stimulated borrowing, making homeownership more accessible. A growing population, coupled with increasing urbanization and a persistent demand for housing in key metropolitan areas, further fuels this market's expansion. Government initiatives aimed at supporting homeownership, such as tax incentives and affordable housing programs, also play a significant role. The market is segmented by loan type (purchase, refinance, improvement), source (banks, HFCs), interest rate (fixed, floating), and loan tenure. While refinancing activity might fluctuate based on prevailing interest rates, the underlying demand for home purchases remains strong, particularly in regions with robust job markets and population growth. Competition among lenders, including major players like Rocket Mortgage, LoanDepot, and Wells Fargo, alongside regional and smaller banks, is fierce, resulting in innovative loan products and competitive pricing. However, the market is not without its challenges. Rising inflation and potential interest rate hikes pose a significant risk, potentially dampening demand and increasing borrowing costs. Stringent lending regulations and increased scrutiny of creditworthiness could restrict access to loans for some borrowers. Furthermore, fluctuations in the housing market itself, including supply chain disruptions impacting construction and material costs, can influence the overall growth trajectory. Despite these headwinds, the long-term outlook for the US home loan market remains positive, driven by the fundamental need for housing and ongoing economic expansion in select regions. The diverse segmentation of the market allows for a nuanced understanding of the specific growth drivers and challenges within each segment. For instance, the home improvement loan segment is expected to see strong growth driven by homeowners' increasing desire to upgrade their existing properties. Recent developments include: June 2023: Bank of America Corp has been adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co. Bank of America will likely open new financial centers in Nebraska, Wisconsin, Alabama, and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee, and New Orleans., July 2022: Rocket Mortgage entered the Canadian Market with the acquisition. The company expanded from offering home loans in Ontario at launch to now providing mortgages in every province, primarily from its headquarters in downtown Windsor. The Edison Financial team grew along with the company, starting with just four team members in early 2020 to more than 140 at present.. Key drivers for this market are: Increase in digitization in mortgage lending market, Increase in innovations in software designs to speed up the mortgage-application process. Potential restraints include: Increase in digitization in mortgage lending market, Increase in innovations in software designs to speed up the mortgage-application process. Notable trends are: Growth in Nonbank Lenders is Expected to Drive the Market.

Discover the booming Canadian mortgage and loan broker market! This in-depth analysis reveals key trends, growth drivers, and market segmentation (home loans, commercial loans, etc.) impacting top firms like True North Mortgage and CanWise Financial. Explore the forecast for 2025-2033 and understand the opportunities and challenges in this dynamic sector. Recent developments include: In October 2023, True North Mortgage expands its Rate Relief product lineup, which initially launched with the lowest 6-month fixed rate around. The new 1-year Rate Relief mortgage is for those buying a home or who want to switch lenders at renewal to a better rate., November 2022: Home Capital Group Inc. announced that it had signed a legally binding contract (the "Arrangement Agreement") to be bought out by a wholly-owned subsidiary of Smith Financial Corporation ("SFC"), a company run by Stephen Smith., August 2022: Rocket Mortgage Canada, a digital mortgage broker based in Windsor, Ontario, made it official that it would stop doing business as Edison Financial and instead do business across the country under the name Rocket Mortgage. Rocket Mortgage said that it will change its brand and start lending directly in Canada later this year. Rocket Mortgage's agents talk with clients from all walks of life on a regular basis. Because of this, the company is in a unique position to use the information learned from these conversations to make loan products that work well and meet customer needs.. Notable trends are: Booming Alternative or Private Lending Market.