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The usage section says the prime rate is used for mortgages. However, I believe most mortgages are based off the 10 year bond. Maybe some mortgages use prime rate though. This ought to be looked into more. --
Bdevel04:15, 19 June 2007 (UTC)reply
Needs non-US coverage
The article as it stands is almost solely concerned with the prime rate in US banking. However, many other countries also use their own prime rate as a reference point for loans. The coverage should be expanded beyond the US only.
Rodparkes 01:44, 22 August 2007
Current prime rate
The sources currently cited in the footnotes for US Prime disagree with recent edits. If you have updated information, provide an updated footnote. Otherwise it looks like vandalism. --
Eve Teschlemacher (
talk)
22:57, 16 December 2008 (UTC)reply
Additional information regarding Canadian prime rates.
This
edit request by an editor with a conflict of interest has now been answered.
Information to be added or removed: In Canada, the spread between the prime rate and the Bank of Canada's target overnight rate has varied historically. Since 2015, the prime rate runs approximately 220 basis points above the target overnight rate. The
Toronto-Dominion Bank is unique amongst Canadian banks where it has a special prime rate specifically for its mortgage products currently set at prime (P) + 15 basis points.
History of prime rates in Canada and the Bank of Canada Target Overnight Rate
Explanation of issue: Previously added text removed for COI. Was improperly cited. I still think that the content added is helpful and addresses some concerns with the US-centrism of the article.
COI Disclosure: I am an employee of Wowa Leads, Inc., a real estate and financial services company in Canada that aims to promote transparency in the real estate industry.
@
Bsl4canadian: That link only gives a calculator. Please can you provide a permanent link to the actual data that was used to generate the graph? Also it might be considered
WP:OR or
WP:PRIMARY. Also, that final sentence about the Torondo-Dominion Bank needs a separate citation, and it reads a little bit like an advert. --
jftsang15:14, 11 August 2020 (UTC)reply
Hi @
Bsl4canadian:, since @
Jftsang: has not responded in a couple months, I will try to answer your questions. I welcome any additional comments if Jftsang returns to this page.
I think the graph is great until 2010 because it uses the StatsCan source. After 2010, it is difficult to find and understand where the numbers came from on the Bank of Canada website and the St. Louis Fed website. Has StatsCan updated their graph? It would be easier if the graph just relied on their data.
As for the last sentence, I will decline to add that into the article. Although something might be "a well-known industry fact" we still need to verify that information from a source. Also, TD bank's practices do not seem notable, the source given for this information appears to be from TD Bank's own website and it puts
WP:UNDUE weight on the practices of one bank. Therefore, I do not believe it belongs in this article.