10/28/2026
BREAKING: Bank of Canada raises its policy rate to 2.50%!
i The Bank of Canada has increased its key interest rate to 2.50% - and Canadian mortgage holders need to pay attention.
& What does this mean for you?
Variable-rate mortgage holders could see higher borrowing
costs, depending on their mortgage terms.
Anyone shopping for a mortgage should review their
options carefully.
• Fixed mortgage rates may also be affected by bond market movements, but they don’t automatically rise with the Bank of Canada’s decision.
Don’t panic. Understand your options before making your next move .