06/10/2026
The Bank of Canada held its overnight rate at 2.25% today, meaning no change for variable-rate mortgage holders.
If you're wondering where rates go from here, you're not alone. Even the Bank of Canada seems to be saying, "Ask us again next month." If anyone has a crystal ball that actually works, dust it off and bring it by. There are a few economists who'd probably like a peek. 🔮
The challenge right now is that the economy is slowing, which could support lower rates, while inflation, oil prices, and global uncertainty are pushing in the other direction.
What does that mean for the housing market?
🏠 More stability for buyers and homeowners
🏠 No major changes expected to fixed rates right now
🏠 Lots of uncertainty about what comes next
My advice remains the same: focus on a mortgage strategy that works for your situation today rather than trying to perfectly time the market.