Mortgage Broker Matt Robinson

10/28/2026

The Bank of Canada announced this morning that it is increasing its overnight rate by 0.25% to 2.50%.

While today's increase was widely expected, it marks a shift in direction for the Bank after a period of holding rates steady.

The bigger story is the Bank's outlook on inflation.

Higher energy prices, tariffs and continued global uncertainty have raised concerns that inflation could remain elevated longer than previously expected. The Bank now forecasts inflation won't return to its 2% target until mid-2028.

Governor Tiff Macklem also acknowledged that further rate increases may be necessary, although he emphasized that there is no predetermined path forward.

What does this mean for homeowners?

Variable-rate mortgage holders and HELOC borrowers can expect their rates to increase by 0.25% as lenders adjust their prime rates.

Fixed mortgage rates are driven more by bond markets than by the Bank of Canada, and bond yields have already been moving higher.

For anyone with an upcoming purchase or renewal, I wouldn't be counting on lower rates anytime soon.

The Bank is in a difficult position. Inflation remains a concern, but higher borrowing costs also put additional pressure on households and an economy that is already facing challenges.

For now, the Bank has made it clear that future decisions will depend on how inflation and the economy respond in the months ahead.

The next Bank of Canada rate announcement is scheduled for December 9.

09/02/2026

The Bank of Canada announced this morning that it is leaving its overnight rate unchanged at 2.25%.

This marks another consecutive rate hold, and the decision itself wasn't much of a surprise.

What was more interesting was the Bank's outlook.

The Bank acknowledged that the upside risks to inflation have increased. Higher energy prices, tariffs and continued global uncertainty could put additional pressure on inflation in the months ahead.

For now, the Bank is holding steady and will continue to monitor inflation and the strength of Canada's economic recovery before making its next move.

What does this mean for homeowners?

Variable-rate mortgage holders and HELOC borrowers will see no change to their rates as a result of today's announcement.

Fixed mortgage rates are driven more by bond markets than by the Bank of Canada, and bond yields have been moving higher recently. Anyone with an upcoming purchase or renewal should be careful about assuming lower rates are just around the corner.

The next Bank of Canada rate announcement is scheduled for October 28.

07/15/2026

The Bank of Canada announced this morning that it is leaving its overnight rate unchanged at 2.25%.

This marks the sixth consecutive rate hold, and it wasn't much of a surprise.

The Bank noted that Canada's economy is showing signs of improvement, with growth picking up, exports strengthening, and housing activity appearing to stabilize. While inflation remains above the Bank's 2% target, much of the recent increase has been tied to higher gas prices rather than broad-based inflation throughout the economy.

For now, the Bank believes current interest rates are appropriate and is taking a wait-and-see approach as it continues to monitor inflation, economic growth, and global events.

What does this mean for homeowners?

Variable-rate mortgage holders and HELOC borrowers will see no change to their rates as a result of today's announcement. Fixed mortgage rates are driven more by bond markets and may move independently of Bank of Canada decisions.

The next rate announcement is scheduled for September 2.

06/10/2026

The Bank of Canada announced today that it is leaving its overnight rate unchanged.

Right now, the Bank is facing a balancing act.

On one hand, Canada's economy has been slowing, which would normally support lower interest rates. On the other hand, inflation remains above target and rising oil prices are creating upward pressure on costs, which could support higher rates.

For now, neither side is winning the argument, so the Bank has chosen a wait-and-see approach and left rates on hold.

What does this mean for homeowners?

Variable-rate mortgage holders will see no change to their payments as a result of today's announcement. Fixed mortgage rates are driven more by bond markets and are unlikely to be affected significantly by today's decision.

04/29/2026

The Bank of Canada held its benchmark rate at 2.25% today.

The message was basically this: if the economy weakens further due to trade uncertainty, rate cuts are still possible. But if oil prices stay elevated and push inflation higher for longer, the Bank may have to keep rates higher, or even raise them.

For now, the Bank appears to be on hold, watching whether inflation pressure spreads beyond energy. Given the weak housing market, I think rate hikes would be a tough move unless inflation becomes a much bigger problem.

02/28/2026

A lot of mortgage stress doesn’t come from rates. It comes from uncertainty.

Not knowing what your options are.
Not knowing when to act.
Not knowing how today’s decisions affect the next five years.

Markets will move. Headlines will change.
Momentum comes from having a plan that works before they do.

01/28/2026

The Bank of Canada held rates steady again today, which wasn’t a surprise. What matters more is that the path forward still isn’t perfectly clear.

In environments like this, the value isn’t in trying to predict the next move. It’s in understanding how different rate scenarios affect your plans and choosing options that still work either way.

Send a message to learn more

01/23/2026

There’s been a lot of talk about inflation and where interest rates are headed, and the honest answer is that the signals are mixed. Some things are cooling, others aren’t, and the economy isn’t falling apart either.

That’s usually when trying to “time” rates becomes the riskiest move. The better mortgage decisions tend to be the ones that fit a borrower’s plans and risk tolerance, not just today’s headlines.

In uncertain environments, flexibility and alignment with your longer-term goals matter more than being right about the next rate move.

01/16/2026

One thing I’m noticing more and more is how much easier mortgage renewals are when homeowners start thinking about them earlier.

A simple check-in a few months out often opens up options people didn’t realize they had. That might mean improving cash flow, accessing equity, or just avoiding unnecessary stress.

Mortgage decisions don’t need to be rushed to be good ones. A little planning goes a long way.

Send a message to learn more

12/10/2025

The B​ank of Canada held its key interest rate steady in its final announcement of the year.

Why the hold?
• Recent data on GDP, inflation, and jobs has been slightly positive
• Unemployment has ticked down for two months in a row
• At this level, the Bank says rates are “about right” to keep inflation near 2%

What’s next?
Some economists think the next move might not be a cut — but a possible hike in late 2026, depending on how the economy evolves.

​The Bank of Canada is keeping things steady while watching a very uncertain 2026. If the outlook shifts, they’re ready to respond.

Stay tuned!