Patching Mortgage Services

09/02/2026

The Bank of Canada hit pause… again.

The overnight rate stays at 2.25%, which means no change to Prime and no change for variable-rate mortgage holders today.

But “no change” doesn’t mean nothing is happening.

The economy is showing some life, inflation is still making noise, and tariffs and energy prices are giving the Bank plenty to think about. Meanwhile, fixed rates can still move independently as bond yields change.

Bottom line: rates are on hold, but the mortgage market definitely isn’t.

Swipe for the quick facts.

And as always, if you’re wondering what any of this actually means for your mortgage, send me a message. I’m happy to help.

08/20/2026

Canada’s July Inflation Update — What Does It Mean for Rates?

Inflation ticked back up to 3.0% in July, but before anyone panics… the headline doesn’t tell the whole story.

⛽ Higher gas prices were a major reason for the increase.

🛒 Grocery inflation slowed to 3.1%, down from 3.9% in June.

🏠 Shelter inflation dropped to just 1.3% — its lowest level in more than five years.

📉 Most importantly, the Bank of Canada’s preferred core inflation measures are sitting around 2%, essentially right where the Bank wants them.

So what does this mean for mortgage rates?

For now, this report gives the Bank of Canada plenty of reason to stay on the sidelines and hold rates steady. Rate cuts aren’t looking likely in the near term, while potential increases are more of a 2027 conversation if inflation starts heating up again.

Bottom line: 3% inflation grabs the headline, but the numbers underneath it are much more encouraging.

Have mortgage questions or wondering what this means for your upcoming renewal? Send me a message.

07/20/2026

Canada’s inflation rate just dropped to 2.8% — so is this finally good news for mortgage rates?

Overall, yes. This was an encouraging inflation report.

Headline inflation fell from 3.2% to 2.8%, and importantly, we’re also seeing improvement in some of the underlying inflation measures the Bank of Canada watches closely.

For mortgages, cooling inflation can help take pressure off bond yields and interest rates — particularly if this trend continues.

But there’s one big wildcard: energy prices.

Lower gasoline prices played a major role in June’s improvement, and with oil prices moving higher again, we shouldn’t assume inflation — or mortgage rates — will simply move straight down from here.

My takeaway: This is a step in the right direction, but one inflation report doesn’t make a trend.

For buyers, homeowners coming up for renewal, or anyone watching mortgage rates, the next few inflation reports — along with what happens to bond yields — will be important to watch.

06/22/2026

Inflation moved higher in May, rising to 3.2% year-over-year across Canada.

The main driver was higher gas prices, but there were also some increases in food and other non-gas categories. In B.C., inflation rose to 2.9%.

The key number to watch is still core inflation. The Bank of Canada’s preferred measures stayed close to target at 2.1% and 2.0%, which may give the Bank room to continue holding rates steady.

For mortgage holders and buyers, this means the Bank of Canada is likely still watching the data closely rather than rushing into a rate change.

Questions about what this means for your mortgage or upcoming renewal? Send me a message.

05/04/2026

Worried about getting approved for a mortgage? Here’s a practical, no-nonsense guide to strengthening your application in today’s Canadian market.

Learn practical steps to boost your mortgage approval chances in Canada, from credit tips to income strategies and down payment planning.

04/29/2026

Think mortgage brokers charge hefty fees? Think again. Learn how brokers get paid—and why working with one can actually save you money and stress.

Discover why working with a mortgage broker in Canada saves you time and money—and how brokers are paid (often at no cost to you).

04/29/2026

UPDATE — The Bank of Canada has announced no change to its benchmark interest rate.⁠ The next BoC rate announcement will be on June 10th, 2026.
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What does this mean for you and your mortgage? Swipe to find out all the details.⁠
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Questions about this update? Send us a message, or head to our website to schedule a call.

04/23/2026

Buying your first home in Canada? Here’s a clear, balanced guide to help you prepare, avoid costly mistakes, and move forward with confidence.

A practical guide for Canadian first-time home buyers—budgeting, mortgage basics, incentives, and common mistakes to avoid.

04/22/2026

Not all mortgage support is the same. Learn the real difference between co-signers and guarantors—and how each can impact your homebuying journey.

Learn the difference between co-signers and guarantors in Canada, how each affects mortgage approval, and which option may suit your situation.

04/21/2026

UPDATE — Canada’s updated inflation rates for March have been released, and rates have increased from last month 📈

What does this mean for you and the current market? Swipe to find out all the details.

Questions about inflation? Send us a message, or head to our website to schedule a call with our team.