Pine prime rate changes FAQ

When Pine’s Prime Rate changes, we realize you may have some questions about how this affects your adjustable rate mortgage with us.

Pine’s prime rate

Effective date

Pine Prime Rate is the variable annual interest rate published by us from time to time as our Pine Prime Rate and is the interest rate we will use as a reference to determine the interest rate that we will charge to customers for certain credit products provided by us in Canada.

Pine's historical prime

Date

Pine prime rate

5.450%
December 12, 2024
5.950%
October 24, 2024
6.450%
September 5, 2024
6.700%
July 25, 2024
6.950%
June 6, 2024
7.200%
July 13, 2023
6.950%
June 8, 2023
6.700%
January 26, 2023
6.450%
December 8, 2022
5.950%
October 27, 2022
5.450%
September 8, 2022
4.700%
July 14, 2022
3.700%
June 2, 2022
3.200%
April 14, 2022
2.450%
March 20, 2022
2.950%
March 17, 2022
3.450%
March 5, 2022
2.700%
March 3, 2022

Question? We've got answers.

When does Pine apply the rate change to my mortgage?

When will my payment amount adjust?

If my interest rate increased, what happens to the payment made on the first payment after the interest rate change?

Am I able to adjust my payment frequency/due date/amount now before the new rate impacts my payment amount?

What will my new rate be with the change in Prime?

The rate went up, so will my mortgage payment go up?

I increased my mortgage payment to a set amount. Will that be affected?