Yes, banks take advantage of borrowers who are pressured by higher rates.  But there's more to the story

Yes, banks take advantage of borrowers who are pressured by higher rates. But there’s more to the story

December 7 will be a good day for Canadian banking. The Bank of Canada has the opportunity to adjust its overnight rate on that day, and an increase of 0.25 to 0.5 percentage points is widely expected. Like flipping a switch, banks would replicate this increase in their prime rate and, in turn, variable rate …

Yes, banks take advantage of borrowers who are pressured by higher rates. But there’s more to the story Read More »