10/31/2026
The rate went up. Should buyers wait? 👀
The Bank of Canada raised its policy rate by 25 basis points, from 2.25% to 2.50% — its first increase since July 2023.
Why? Inflation has been running around 3% and is forecast to rise to about 3.5% by year-end, driven largely by higher energy prices and building cost pressures for businesses.
The Bank has also said further rate increases may be needed — but that is not guaranteed.
For buyers, that means waiting for rates to come down isn’t necessarily a strategy. The better question is: does buying make sense for you at today’s price, payment and budget?
If the numbers work and the right property comes along, it may be worth having the conversation rather than trying to perfectly time the market.
Next Bank of Canada rate decision: December 9.
