06/10/2026
๐จ ๐๐ฎ๐ป๐ธ ๐ผ๐ณ ๐๐ฎ๐ป๐ฎ๐ฑ๐ฎ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ ๐จ
The Bank of Canada has held its rate steady, meaning no change for variable-rate mortgages tied directly to the prime rate.
๐ฐ What this means:
โข ๐ฉ๐ฎ๐ฟ๐ถ๐ฎ๐ฏ๐น๐ฒ-๐ฟ๐ฎ๐๐ฒ ๐ฐ๐น๐ถ๐ฒ๐ป๐๐: Your payments/rates remain unchanged
โข ๐๐ถ๐
๐ฒ๐ฑ-๐ฟ๐ฎ๐๐ฒ ๐ฐ๐น๐ถ๐ฒ๐ป๐๐: Fixed rates are influenced more by the bond market, so they can still move independently of today's announcement.
โข ๐๐๐๐ฒ๐ฟ๐: A rate hold brings a little more stability and confidence while house hunting.
โข ๐๐ผ๐บ๐ฒ๐ผ๐๐ป๐ฒ๐ฟ๐: If your mortgage is up for renewal soon, it's still a great time to review your options and plan ahead.
As always, if rates improve before your purchase closes, we'll make sure you receive the best available rate at the time. ๐กโจ
Questions about how this impacts your mortgage plans? We're here to help!