The current prime rate is 7.75%, up from 7.50% in December. It went into effect Feb. 2, 2023. This is the eighth time that the Federal Reserve has increased the prime rate since it began its most ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...

Credit card lenders add a margin to the prime rate to arrive at your card’s variable APR. The prime rate impacts the cost of credit on consumer loans, including credit card accounts, with the rates on ...

The prime rate is a base rate set by Canadian banks to determine the variable interest rates they can charge on lending products, such as mortgages and loans. Many or all of the products on this page ...