10/28/2026
As expected, The Bank of Canada has raised its key interest rate by 0.25% to 2.50%. But what does that actually mean for you?
If you have a variable-rate mortgage, you may see a change in your monthly payments. For example, on a $500,000 mortgage with 25 years remaining, a 0.25 percentage point increase could mean roughly $70 more per month.
If you have a fixed-rate mortgage, your payments won't change today. But if your renewal is coming up, it's a good time to explore your options.
You don't need to predict interest rates. You just need to understand your options.
A rate change doesn't mean you need to change your plans. It just means it's worth understanding how it fits into your bigger financial picture.
Whether you're buying your first home, approaching renewal, or thinking about refinancing, having the right advice can make all the difference.
If you’re wondering what today’s rate decision means for your mortgage, reach out to me @ 780-994-7454 to discuss your options and find a financing strategy that works for you.
