Industry Info/News

News

June 5, 2024 Today, the Bank of Canada lowered its key interest rate by a .25% to 4.75%. This is the bank’s first rate cut since March 2020. In its announcement this morning, the Bank indicated Canadians can reasonably expect more cuts so long as inflation continues to ease, and the Bank maintains its confidence that inflation is steadily approaching the Bank’s 2.0% goal. The Bank’s...

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2024 Allowable Rent Increase

2024 Allowable Rent Increase For manufactured home park tenancies, the 2024 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...

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Mobile 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...

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Current Bank Prime Interest Rate & Rate History

Current Canadian Bank Prime Interest Rate 6.95% as of 06-05-2024 Bank Prime Rate History Date of ChangeBank Prime RateJune 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 8, 20236.70January 25, 20236.70December 7, 20226.45October 26, 20225.95September 7,...

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