News
December 11, 2024 This morning, the Bank of Canada cut its key rate by 0.5% bringing it to 3.25%. This marks the fifth consecutive time the Bank has lowered interest rates since June. Economists now widely expect the Bank will cut rates to either 2.5% or 2.75% early in 2025 and then pause to assess the state of the economy and the need for further stimulus. The Bank’s next meeting date is...
Read More2025 Allowable Rent Increase
2025 Allowable Rent Increase For manufactured home park tenancies, the 2025 maximum increase is 3.5% plus a proportional amount for the change in local government levies and regulated utility fees. Landlords must provide tenants with three full months’ notice using the correct notice of rent increase form.. Link to more information on rent increases:...
Read MoreMobile Home Park Legislation & Regulations
Click on the following links for more information on mobile home park legislation and regulations in BC: BC MANUFACTURED HOME PARK TENANCY ACT BC MANUFACTURED HOME PARK TENANCY...
Read MoreCurrent Bank Prime Interest Rate & Rate History
Current Canadian Bank Prime Interest Rate 5.45% as of 12-11-2024 Bank Prime Rate History Date of ChangeBank Prime RateDecember 11, 20245.45%October 23, 20245.95%September 4, 20246.45%July 23, 20246.70%June 5, 20246.95%April 10, 20247.20%March 6, 20247.20%January 24, 20247.20%December 6, 20237.20%October 25, 20237.20%September 6, 20237.20%July 12, 20237.20%June 7, 20236.95April 12, 20236.70March...
Read More
