<prompt> Human: Hey everyone, just a quick question. Today in Canada the bank of Canada raised Prime from 0.5 to 0.75, and the 5 major banks have followed suit raising their interest rates by 0.25. My question is, i have a car loan through one of these banks. Will my car payment go up because of this increase? Or is my interest rate locked in during the tenure of the loan? As I cant remember if Im locked in or it floats.  <response>: Is your loan variable? or a locked rate? look at your loan documents, or give you bank a call. I highly suspected you have a locked rate, and they cant raise your rate. 