03/25/2026
CONTACT DIANE WITH 2% REALTY 780 876 0102 FOR ALL OF YOUR REAL ESTATE NEEDS!
IMPORTANT INFORMATION FOR HOME BUYERS!
CONTACT DIANE WITH 2% REALTY 780 876 0102
FOR ALL OF YOUR REAL ESTATE NEEDS!
​You​
The Bank of Canada’s current key interest rate is 2.25%, and this is the rate that directly influences variable‑rate mortgages across Canada.
Here’s the quick breakdown so you can see how it affects mortgages right now:
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🏦 Bank of Canada Rates (Latest)
- Overnight rate (policy rate): 2.25%
This is the central rate the Bank of Canada sets.
- Prime rate at major banks: 4.45%
Lenders use this to price variable‑rate mortgages.
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🏡 What This Means for Mortgages
Variable‑rate mortgages
- Your rate is usually Prime ± a discount/premium.
- With prime at 4.45%, a typical variable mortgage might look like:
- Prime – 0.80% → 3.65% (example range from lenders).
- Variable rates move immediately when the Bank of Canada changes the overnight rate.
Fixed‑rate mortgages
- Not directly tied to the Bank of Canada rate.
- They follow bond yields, but the BoC rate still influences overall market expectations.
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đź“Ť For you in Alberta (Grande Prairie)
Most lenders in Alberta are currently offering:
- 5‑year variable: around 3.6%–3.9%
- 5‑year fixed: around 4.0%–4.2%
(These are market examples from national rate aggregators.)
