The Bank of Canada overnight rate has risen sharply since early 2022 and has held above 4 per cent since December (see below).
The longer the period of increased interest rates continues, the more likely it is farmers will have to renew some loans or take on new debt in this time of more expensive money.
When it comes time to make the call, we want to know — do you lock in or take the variable rate and hope for a downward slide? If you lock in, for how long? Weigh in in our poll!
Lyndsey Smith is a field editor for RealAgriculture. A self-proclaimed agnerd, Lyndsey is passionate about all things farming but is especially thrilled by agronomy and livestock production.
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