Bank of Canada Holds Rates Steady
NESTO DIP & SIP CRAFT BEER
Cheers to Lower Interest Rates!
The beer that tracks Prime Rate trends for you.
Enjoy the taste of financial relief this summer.
Why We Created Our Own Beer
At nesto, we like to do things differently, and this summer, we’re raising a toast with our craft beer to the recent interest rate drop!
Introducing the “Dip & Sip” beer, brewed by Brasserie Harricana. This unique sour beer is the only beer where the alcohol percentage follows the Prime Rate trend set by the Bank of Canada. It’s a symbol of new beginnings brewing in the market and celebrates the start of financial relief for Canadians. Just like the satisfaction of a cold beer on a hot day, lower mortgage rates bring a sense of relief.
So sip on that dip, you deserve it.
How low can rates go?
In early June, the Bank of Canada lowered the policy interest rate to 4.75%—the first cut since March 2020. This hasn’t yet brought substantial relief for homeowners, but with inflation slowing and closing in on the BoC’s target in June, another cut on July 24 brought the rate to 4.50%. This makes summer ideal for buyers and renewers, as the July rate cut could have a more meaningful increase in home prices compared to June’s.
Economists expect more cuts in 2024, with the next announcement in early September.
Here’s hoping we can celebrate with a new light brew by year’s end!
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Not for resale. Brewed and canned by Brasserie Harricana. Please drink responsibly.