10/28/2026
As expected today, the Bank of Canada raised it’s overnight rate by 25 basis points.
This means the bank’s prime lending rate is going up by 25 basis points or from 4.45% to 4.7%.
If you have an adjustable rate mortgage, that means your payment will increase. If you have a variable mortgage it means more of your payment will go towards interest than principal. If you have a secured line of credit, your interest payment will increase.
If you would like to discuss your mortgage options, if you’re shopping for a home and unsure, which option is best for you right now or you would like to receive a second opinion regarding your existing mortgage to make sure everything‘s working for you according to your goals - let’s have a call.
In 15 minutes, we can accomplish a lot.
https://calendly.com/lisadenyer/call-with-lisa-denyer